Trinity Metals Secures $US3.8million funding from U.S. International Development Finance Corporation (DFC)

Trinity Metals Secures $US 3.8 million funding from DFC

Trinity Metals is pleased to announce that it has secured $US 3.865million of Technical Assistance grant funding from the U.S. International Development Finance Corporation (DFC), America’s development finance institution.

The funding has been earmarked for ESG specific projects underway across Trinity’s mining operations in Rwanda. These include comprehensive baseline studies to support updated Environmental and Social Impact Assessments for all Trinity mines; a holistic employee skills development program; the implementation of an international standard SHEC (Safety, Health, Environment and Community) Management System; integrated development planning for all mining concessions; and legacy tailings and river rehabilitation planning. These projects are an integral part of the Company’s transformation plans to make Trinity Metals a leader in the critical metals sector.

Trinity Metals was formed in May 2022 from the merger of shareholders in three entities, including Africa’s largest tungsten mine, (Nyakabingo), Rwanda’s largest tin mine (Rutongo) as well as the country’s second-largest tin mine (Musha). ( Strong government and community support coupled with over $30 million in shareholder investment has led to a quadrupling in production in just two years, ensuring consistent positive cash flow performance from the three mines. Trinity Metals has exciting growth plans in Rwanda and securing technical assistance funding from the DFC represents a major milestone.

Peter Geleta, Chief Executive Officer, commented: “Securing funding support from an important institution, like the DFC, is very encouraging and a testament of the significant progress the Company has made in the past 24 months. At Trinity we are blessed with long life ore bodies, committed employees and communities, and a supportive investment climate, this funding is a major boost and support for our vision for the Company”

Shawn McCormick, Chairman, commented: “As Rwanda’s largest producer of conflict free and child labour free critical minerals, it is a distinct honour to be recognised by the US DFC with this Technical Assistance grant.  The funding and American partnership will significantly expand our ability to operate at global industry standards as we work with Rwanda to bring its abundant resources to international markets in a safe and responsible manner.”

The US DFC’s $3.865 million investment in Trinity Metals Group underscores the significant role of local and international partnerships in advancing the development of Rwanda’s mining sector. This aligns with our commitment to transforming the mining industry into a more productive and profitable sector on a larger scale,” noted Francis Kamanzi, the Chief Executive Officer of the Rwanda Mines, Petroleum and Gas Board.

David Hester, DFC’s Managing Director of Technical Assistance, commented:
DFC is pleased to support such an impactful project that aligns with our priority of building more diverse, resilient, and sustainable critical mineral supply chains and bolstering economic development in Africa. This technical assistance grant demonstrates the commitment of the United States to supporting economic and the transition to clean energy technology.”