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Mining promises to be Kenya’s economic mainstay

Kwale Mine, a partnership between Kenyan government and Base Titanium has become the country’s flagship mining outfit. Last year, the mine represented close to 60% of the country’s total mineral output value. “This represents a significant milestone in the partnership between the government of Kenya and Base in promoting further …

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Kenya’s mining star is shining bright – Satchu

Kenyan investment and business guru Aly-Khan Satchu has bemoaned negative propaganda on the country’s mining industry. Satchu, the Chief Executive Officer of Rich Management Ltd said the nation need to be wary of the resource nationalism argument, adding that government has a crucial role to play. “The government needs to …

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Kenya’s laws close out foreign miners

East Africa’s member states’ mining and engineering laws are weighing down on free movement of labour in the bloc. Over the last two years, East African countries have introduced at least six new laws that make it difficult for people to move and work freely in the region. Kenya leads …

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2nd edition of Kenya Mining Forum on the cards

Kenya’s government in collaboration with the country’s Chamber of Mines has announced plans to host the second edition of the Kenya Mining Forum. Elodie Delagneau, Event Director of Kenya Mining Forum said the jamboree is slated for from 13-14 November in Nairobi. “We want to establish and consolidate Kenya’s position as a …

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Kenya reviews mining laws as industry struggles to grow

Kenya is reviewing its mining code, a year after enacting new legislation, as it seeks to attract investment into an industry that’s barely grown over the past five years. The government is working with the UK Department for International Development-funded Extractives Hub to come up with a revised law that …

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Base hits revenue record in June quarter

Mineral sands producer Base Resources has reported record quarterly revenue for the three months to June, as ilmenite and zircon prices continued to improve. The unit revenue per tonne of product sold during the quarter increased to $297/t, compared with the $258/t reported in the previous quarter. Mineral sands production …

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Goldplat secures funding for Kilimapesa processing plant expansion

Aim-listed Goldplat has, through its Gold Mineral Resources (GMR) subsidiary, entered into a $2-million uncommitted, on-demand, revolving pre-export loan facility with Scipion Active Trading Fund (SATF), arranged by Scipion Capital (Scipion). Goldplat is in the process of expanding the processing plant at its Kilimapesa gold mine, in Kenya, which to …

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Companies sell ETFs as gold underperforms

The international gold exchange-traded fund (ETF) market is suffering, owing to the poor performance of the gold price in 2013, the South Africa-based investment banking division of Barclays Africa exchange traded products head Vladimir Nedeljkovic tells the media He says, while gold ETFs in South Africa have remained static, as investors are keeping …

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Barclays Africa plans Kenya gold ETF listing early this year

Barclays Africa Group is preparing to list its NewGold ETF on the Nairobi Securities Exchange after receiving regulatory approval to begin trading the securities. “We expect the listing to take place early this year,’’ Michael Mgwaba, head of exchange traded products at Johannesburg-based Barclays Africa’s Absa Capital unit, said in an …

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Kenyan heavy minerals project set for success

Mineral sands miner Base Resources is positive about the prospects of its Kenya-based $310-million Kwale mineral sands project, located about 50 km south of Mombasa and 10 km inland from the Indian Ocean. The miner last month received an export permit to wave off its first bulk shipment from the …

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