Piran Rwanda Limited, Euro Trade International and Rutongo Mines Ltd. were three separate, privately held companies with a few things in common. They all had a strong track record of mining and exploration for tin, tungsten and/or tantalum in Rwanda and were committed to incorporating sustainable mining practices into assets previously acquired from the Rwandan government.
In May 2022, the three companies joined forces under equity backing from Techmet, a UK-based private industrial company working to secure the technology metal supply chain in a world with rapidly increasing demand. Techmet, Trinity Metals’ majority shareholder, works with a number of investment partners including the US Development Finance Corporation (DFC) to fund its portfolio. Additional shareholders include Piran Resources, parent company of Piran Rwanda Limited and the Rwandan Government, represented by Ngali Holdings Ltd.
The consolidation of the three companies led Trinity Metals to its position as Rwanda’s leading Mining Company and one of the nation’s prominent private sector employers. The board of directors was appointed in May 2022 with representation from the major shareholders to oversee the company’s strategy and governance.
Key benefits of the merger, by design, have included operational synergies, increased production capacity, shared learning across the three sites, improved career growth opportunities for employees and greater supply chain leverage