CS Kazungu urges Parliament to fast-track Mining Bill
News
By
Frankline Sunday
| Feb 12, 2016
NAIROBI: Parliament has been urged to fast-track the passing of the Mining Bill, 2014. This will enable the country benefit from renewed efforts to commercially exploit mineral and gemstone resources.
Newly appointed Cabinet Secretary to the Ministry of Mining Dan Kazungu said that the Government is seeking partnerships with investors to tap into the country’s vast potential in mineral and gemstone resources.
“Kenya has vast deposits of minerals most of which are yet to be fully developed and it is this potential that we seek to build on through the enactment of legislation such as the Mining Bill 2014 currently before Parliament,” he said.
Mr Kazungu, who was in South Africa early this week for the annual Mining Indaba Conference as part of the Kenyan delegation, pitched the country as a suitable market not just as a source of direct raw minerals but possible future processing hub.
“Kenya is centrally placed in East Africa and very soon we want to position ourselves to be the centre for mineral exchange and processing in the region,” he said. The Mining Bill, 2014 is one of five key bills pending before Parliament whose fate is set to be determined by a mediation process made up of a special committee drawing membership from both Houses.
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The bill proposes drastic changes to traditional systems and shareholders in the country’s mining sector in a bid to increase transparency and attract investments.
One of the new provisions allows for the setting up of a National Mining Corporation (NMC), which will be the investment arm of the Kenya government in respect to minerals.
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