Kenya earns Sh25 billion from minerals

The Government earned Ksh 25 billion from mining this year, Mining Cabinet Secretary Dan Kazungu, has said, adding the amount excludes construction minerals, currently classified as minerals under the new law.

Speaking on Friday while opening the second edition of the annual premium Kenya Mining Forum that takes place on Monday and Tuesday at a Nairobi Hotel, Kazungu said Kenya has carried out significant reforms in the sector, including operationalization of online mining comprehensive register.

He lauded reforms made in the sector, leading to a transparent online application of mining licenses and enactment of the Mining Act 2016, which has seen 13 mining regulations effected.

The CS said that Kenya is now ranked at position 86 globally as a mining destination, an improvement from number 102 last year.

He added the improved ranking has been attributed to six key pillars of Kenya’s mining reform agenda, including a 20-year mining strategy and road map, mining and minerals policy and the Mining Act 2016.

Kazungu said it also includes comprehensive and progressive mining regulations, robust competitive and attractive fiscal policy and current Geo data.

The CS added that the establishment of institutions and processes such as the Mineral Rights Board (MRB), Mining Laboratory, set up of the Mineral Audit Unit (MAU) to quantify and calculate revenues from mineral wealth, the set-up of the Mineral Value Addition Centre and National Mining Institute in Voi, Taita Taveta county, has created an enabling environment for investors to tap into the mining sector in Kenya.

The forum is an early–to–market investment platform that seeks to open networking opportunities to local and foreign mining investments through extensive show casing of Kenya’s mineral potential in exploration and mining, as well as attracting businesses for financial institutions and encouraging capacity building in mining related professionals.

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 “The hosting of the Kenya Mining Forum will afford the country a great opportunity to showcase its mineral wealth and encourage mineral rich communities to embrace mining as an economic activity that can transform the well-being of Kenyans and contribute to the national economic growth,” said Kazungu.

He particularly encouraged the youth to attend the forum to learn some of the opportunities within the sector.

“Ministers of Mines from the Federal Republic of Nigeria and the Republic of South Africa, Cabinet Secretaries from other Ministries and other stake holders are expected to attend,” added the CS.