Kenya

31 mining licences cancelled with more to follow


Published

The Cabinet Secretary for Mining, Najib Balala, held a press conference yesterday in which he announced that 31 licences issued by the Mining Ministry had been revoked. The decision was taken because the minister said they had been issued under unclear circumstances. He also suspended the Commissioner of Mines, Moses Masibo.

Not stopping there the minister has also established a taskforce to be chaired by chaired by Mohammed Nyaoga to investigate more than 500 licences issued since 2003. The minister suggested that only 20 or so of the 500 licences issued were credible.

The minister also announced that there would be new royalties and drilling charges where mining companies would pay 10% of proceeds to the government, up from as low as 0.01% in some cases.

The full story can be found in the Daily Nation.

More detailed briefing on the politics and risk of doing business in this country is available to clients and subscribers. If you would like to know more then please contact enquiries@tradebridgeconsultants.com