September 21, 2021

Lakefront Hartwell

Complete News World

The government is suspending the activities of foreign mining companies to reconsider more lucrative deals

(Agens Egofin) – The only African country to exploit rare earths, Burundi has abundant mineral resources, the revenue of which could trigger a number of development projects. However, by 2020, the World Bank estimates that 86.2% of the population of this poor country will earn less than $ 1.9 a day.

In Burundi, the government has suspended the activities of several mining companies to renegotiate its contracts, as we have learned from several confirmation sources.

Also Read: 06/11/2020 – Rare Earths: Little Burundi Invites It to China’s Table

A total of seven mining companies of British, Chinese and Russian descent have been affected by the operation. Among them, the English Rainbow Rare Lands, listed in the United Kingdom, holds 90% of the shares of the Rainbow Mining Burundi Company, which in 2015 obtained a license to mine rare earths from the eastern Gakara perimeter. Bujumbura.

Ibrahim Uwise, Minister of Hydraulics, Energy and Mining of Burundi, explains over the microphone of RFI Radio that the agreements concluded under former President Pierre Nkurunziza will not allow the country to truly benefit from its own mining resources. “ The current conventions are too much to harm the country. It is our duty today to suspend the exploitation of the mines so that the contracts can be renegotiated because we are the owners of the land, so only 10% can be satisfied. He announces.

The aim of the authorities is to make more profit from the exploitation of its soil. “ The country is losing a lot, while relying on this revenue for its growth Added the Minister.

It should be noted that Burundi is the only African country that has a deposit of rare earths and is in high demand, especially in the electronics industry, high-tech manufacturing, electric and hybrid cars, photovoltaic panels and wind turbines. Nevertheless the country remains one of the poorest in the world and the World Bank estimates that about 86.2% of its population will live below the poverty line by 2020.

A ” The curse of mining resources Recalling the DRC, its President Felix Sisekdi recently announced his intention to reconsider the “unfair” mining contracts that had ended under his previous regimes. ” In the end, every person who exploits our minerals should earn the right price for their work, but Burundi gets a fair return, which is really similar to its contribution. Said Mr. Uvis.

Moutiou Adjibi Nourou

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