Trinity Metals Targets Lithium Opportunities, Expands Mineral Output

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Strategic Expansion into Lithium Mining

Trinity Metals Group, a leading mineral processing and trading company, has unveiled ambitious plans to invest $20 million (approximately Rwf29bn) into lithium exploration. This move comes as the global demand for lithium surges due to the rapid adoption of electric vehicles and the shift toward green energy solutions.

The company, which currently operates three mines across Rwanda, has initiated lithium exploration at one of its licensed sites. Preliminary assessments have indicated significant potential for lithium deposits. Peter Geleta, CEO of Trinity Metals Group, shared that drilling works began over a year ago and yielded promising results.

"At the end of 2024, we completed a 15-month, 11-hole drilling programme, becoming the first mining company in Rwanda to drill below 300 meters when we reached 780 meters," Geleta stated. "The results were very encouraging, suggesting we may have a world-class lithium deposit."

The Growing Importance of Lithium

Lithium is not only essential for everyday devices like remote car locks, cameras, calculators, thermometers, watches, and laser pointers but also plays a crucial role in emerging high-growth sectors. According to a May 2025 report by the International Energy Agency (IEA), global lithium demand grew by 29.4% annually between 2021 and 2024—far outpacing other energy-transition minerals.

This growth, which is 4-6 times higher than that of copper, nickel, cobalt, graphite, and other rare earth metals, is primarily driven by EV battery production, grid-scale energy storage systems, and the expansion of consumer electronics. Countries such as Australia, Brazil, China, Portugal, and Zimbabwe are racing to increase their supply capacities to meet this rising demand.

Rwanda, on the other hand, is positioning itself as an attractive destination for lithium investment. Early exploration work has identified several areas with high concentrations of lithium, including Gatumba in Ngororero District, Kabacuzi in Muhanga District, and other regions such as Karongi, Nyanza, Rulindo, and Rwamagana.

Trinity’s Business Plan and Investment Strategy

Lithium exploration is part of Trinity's broader strategy to expand its mineral processing activities and scale operations. A key component of this plan involves a $100 million (approximately Rwf145bn) investment aimed at boosting mining output through new decline developments, accessing deeper ore reserves, mechanizing operations, and improving mineral processing capabilities across its three mines.

Geleta explained that half of the required $100 million will be funded from cash flows generated by existing operations, while the remaining portion will need to come from new capital injections. The company is actively engaging with potential investors and hopes to secure this funding in 2026.

One of the key investors under consideration is the U.S. International Development Finance Corporation (DFC), which is evaluating an equity commitment of between $30 million and $50 million. This follows a $3.85 million technical assistance grant awarded mid-last year to help Trinity prepare for future equity financing.

"The process of an equity application has commenced, and it is uncertain how long this process will take or whether Trinity will be successful," Geleta said.

Challenges and Opportunities

Despite its strategic ambitions, Trinity faces challenges in modernizing its mineral-processing capabilities. Current recovery rates remain low, particularly for tungsten, where yields hover around 40%. The manual nature of the current workflow leads to inefficiencies, with considerable value being lost in the supply chain.

"Currently, we drill and blast, then handpick the ore and extract the nuggets, which are high grade, and crush them into concentrate for sale. The rest of the material is transported out of the working areas, stockpiled, and put through a manual panning and sluicing process, which gives us very low recoveries," Geleta explained.

With the introduction of a modern processing plant, however, these recovery rates could be significantly improved, potentially reaching 75%.

A New Era for Rwanda’s Mining Sector

For now, Trinity Metals and the broader mining industry in Rwanda have a unique opportunity to stake a claim at the top end of the value chain. If successful, this shift could greatly enhance the country's mineral export revenues.

As the race between the U.S. and China for control over the global supply of critical minerals intensifies, Rwanda and Trinity Metals stand to benefit from increased investment from the West. With a stable jurisdiction and visionary leadership, the country presents a compelling value proposition for international investors seeking to diversify their supply chains.