Kazakhstan’s national mining company Tau-Ken Samruk — a subsidiary of the sovereign wealth fund Samruk-Kazyna — is set to develop deposits of rare and rare-earth metals in Rwanda jointly with the country’s Ngali Holdings, Samruk-Kazyna reported.
«Nurlan Zhakupov, the head of the fund, met with the management of the Rwanda Development Board, the Rwanda Mining Board and Ngali Holdings in Kigali (Rwanda)… Following the meeting, Tau-Ken Samruk JSC and Ngali Holdings signed the Term Sheet. The document provides for joint development of deposits of rare and rare-earth metals in Rwanda,» the fund said in a statement.
CEO of the Rwanda Development Board Jean-Guy Afrika, CEO of the Rwanda Mines, Petroleum and Gas Board Alice Uwase and CEO of Ngali Holdings Joseph Butera took part in the meeting.
According to Samruk-Kazyna, during the talks, the parties discussed prospects for cooperation in the mining industry, along with the development of joint geological exploration projects. Zhakupov said that Kazakhstan and Rwanda had reached a new stage of cooperation thanks to the visit of Rwanda’s President Paul Kagame to Kazakhstan in 2025.
