Unpredictable business laws cause jitters in the growing mining sector

Local Mining firms are concerned with what they term as rapid-fire methods of Mining Cabinet Secretary Najib Balala, to the point that some are threatening to quit the country.

Cortec Mining Kenya Ltd (CMK) management told Africa Mining Intelligence, a specialist publication for the mining industry in Africa, that it was thinking of hauling the Government before the International Centre for the Settlement of Investment Disputes (ICSID) to win compensation. Its licence was one of the 65 cancelled in mid-May by Balala.