Trinity Metals has appointed experienced mining finance executive Jaco Maritz as chief financial officer as the company prepares for a significant phase of growth, including a $50 million expansion of its flagship tungsten mine in Rwanda and a potential New York listing.
The appointment was announced on Tuesday, August 25, with Maritz set to take up the role on September 1. Trinity, which describes itself as Rwanda’s leading producer of conflict-free critical minerals, is backed by shareholders that include the Rwandan government. Its largest shareholder is TechMet Ltd., which the US government partly owns through the US International Development Finance Corporation.
Maritz brings more than 25 years of mining experience, with a strong focus on African operations. He most recently served as a senior financial adviser to the Khoemacau copper mine in Botswana and previously held senior finance positions at Barrick Mining. He has also served as CFO at Acacia Mining and Khoemacau.
Trinity CEO Peter Geleta said Maritz’s background in international mining finance would support the company at a critical stage of its development. The group is implementing growth plans aimed at strengthening its position as a major supplier of critical minerals to international markets.
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The timing of the appointment is significant. Trinity plans to triple output at its Nyakabingo tungsten mine through the construction of a new $50 million processing plant by 2027. The mine has gained strategic importance in US tungsten supply chains, where the metal is viewed as critical for the defence industry. According to a June update, exports from Nyakabingo already account for up to 20% of average monthly US consumption of tungsten concentrate.
Beyond Nyakabingo, Trinity also operates the Rutongo tin mine and the Musha tin and tantalum mine in Rwanda. Reuters has reported that the company is considering a New York initial public offering that could raise between $100 million and $200 million within the next 12 to 18 months to support its growth plans.
