This chapter describes the evolution of the mining sector in Rwanda, both its domestic mining sector and in relation to the trade of minerals from the neighbouring Democratic Republic of Congo (DRC). Trading minerals from mineral-rich Eastern DRC has benefited Rwanda’s domestic economy through providing access to foreign exchange revenues. However, dependence on minerals from the DRC has been a double-edged sword. While providing significant revenues and being central to national security interests, increased reliance on the DRC contributes to the empowerment of individual business and military elites that may later become threats to the RPF’s ruling coalition. The RPF has transformed the domestic minerals sector with increased investments in geological investigations, as well as significant increases in domestic production. Dynamics in the domestic minerals sector mirror the elite vulnerability characterising other sectors. Though individual elites initially benefited from privatisation efforts, there is increased reliance on government-owned firms (like Ngali) for its most ambitious upgrading strategies. Attempts at beneficiation have been impeded by difficulties in developing effective domestic state–business relationships and challenges in centralising control over supply chains.