Kenya: State Enters a Deal With UK’s Firm to Revive Fluorspar Mining in Elgeyo Marakwet

Kenya has signed a contract with the United Kingdom’s Soy-Fujax…


Kenya has signed a contract with the United Kingdom’s Soy-Fujax Mining Company for the revival of fluorspar mining in Elgeyo Marakwet County.

The contract was signed by the cabinet secretary of mining, Salim Mvurya, who was accompanied by his principal secretary, Elijah Mwangi, and Fujax UK Regional Director, Hendrick Ryst.

The agreement will see the government owning a 15 percent stake in the mining activities, which is a strategic move to safeguard Kenya’s interest in the sector.

According to the state Department of Mining, the contract will see the generation of Sh4.8 billion into the local economy and, in turn, pave the way to propel job creation in the region and promote regional development.

“This marks a monumental milestone in the mining sector which has opened the doors for the investor in this joint venture to pump in over 4.8 billion shillings into the local economy, creating hundreds of jobs and promoting development in the region,” the state department of mining stated on X.

The State Department of Mining is also working on getting a strategic investor to establish a gold refinery in Kakamega and a granite plant in Vihiga County.

“Senior officials from the mining department were also present. The major reforms currently being undertaken by the State Department for Mining are primarily geared towards making this sector extremely attractive for local, regional, and international investors,” it stated.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *