Kenya’s mineral finds puts it in the global map
Kenya is witnessing intensified activity in its mining and oil exploration sectors following the discovery of huge deposits of titanium and niobium, gold and gold deposits and the oil find in Northern Kenya.
Australia-based mining company Base Resources Limited through its Kenyan subsidiary Base Titanium has been developing Kwale Mineral Sands project on the Kenyan coast. With this project Kenya is hoping to export titanium, one of the most sought after minerals globally.
The project is extracting ilmenite and rutile, which are processed into titanium dioxide and used in pigments for paints and plastics, and zircon, which is used in ceramics.
Kenya has also issued mining lease to UK mining company Goldplat for gold mining in the country’s Rift Valley area.
Kenyan government is expected to earn a decent percentage of the value of each export consignment in royalties, as well as a corporate tax tied to the profits that the mining companies make.
Other companies prospecting for gold in Kenya include, Afri-All and Mid-Migori. Mid-Migori has operated has operated for more than ten years. Afri-All has been exploring in Western Kenya.
The discoveries have been hailed as key to a country that has over the years over relied on agriculture which is subject to international markets shocks. Over reliance on imports hasn’t favoured the country either.
“The discovery of these minerals couldn’t have come at a better time especially when agriculture which the country relies on for economic growth has been receiving a battering from climate change. The country needs that balance and it is encouraging to hear that the deposits are of commercial value,” said Julius Wakini an economist.
However as fun and flair gets amplified concern is emerging especially among the locals where the deposits are found who have complained that they are not fully compensated and are even being forced out of the land they have inhabited for long without the right procedure.
