RWANDA Law and Practice Contributed by: Aimery de Schoutheete and Penina Ngabire, Liedekerke Great Lakes
Constitution of a Security A security interest is constituted by a written security agreement between a secured credi - tor and a debtor. The agreement must indicate the value of the collateral and confirm that the debtor has rights in that collateral. Registration of a Security The security interest becomes effective against third parties upon its registration by the Office of the Registrar General (ORG) in the register of security interests (the “Security Register”). Realisation of a Security A secured creditor (with priority over other secured creditors) may take possession of the collateral when the debtor is in default under the security interest agreement, provided that the creditor has obtained a certificate from the ORG. Consultation of the Security Register Third parties may access the content of the Security Register, after introducing themselves to the ORG and paying a fee. They can also obtain a printed copy of the search result. 6. Mining: Outlook and Trends 6.1 Two-Year Forecast for the Mining Sector Having modernised its mining legal frame - work, Rwanda now seeks to attract investors to explore new areas, conduct large-scale mining operations, and build modern processing facili - ties in the country. The RMB and the EU have also entered into a partnership to, among other things, digitalise various services (see 3.3 Sus- tainable Development Initiatives Related to Mining ).
Focus on Exploration, Large-Scale Mining and Processing In the near future, Rwanda is keen to attract investors to boost exploration, large-scale min - ing operations and mineral processing in the country. Exploration In 2017, Rwanda conducted an airborne survey that revealed more than 50 potential target areas (PTAs). The government and the RMB are now actively seeking to attract investors to pursue exploration efforts with the aim of better assess - ing the country’s mineral resources. Large-Scale Mining Operations Over the past decade, Rwanda has significantly modernised its public infrastructure and now boasts modern road, electricity and water sup - ply systems able to support large-scale mining operations. In parallel, the RMB is working with various stakeholders to professionalise and mechanise artisanal mining operations. Rwanda is also diversifying its mineral portfo - lio to encompass new resources, like amblygo - nite, lithium and beryllium, complementing the extraction of the 3Ts, gold, rare earth elements and gemstones, which has formed the back - bone of the mining sector over the past decades. Lastly, the University of Rwanda and Rwanda Polytechnic both propose mining programmes that will prepare graduates for geology, environ - mental protection and other related earth sci - ences. Processing and value-addition Rwanda’s near-future ambition is to become a mineral value-addition hub in the region and to attract investors to set up modern value-addition processing in the country.
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