Mining sector makes huge loss in political turmoil

The current political uncertainty has taken a huge toll on the mining sector, Cabinet Secretary Dan Kazungu has said.

The CS said investors are now fearing to inject money in the sector.

Mr Kazungu said the political stalemate is likely to affect the launch of the three-year Nationwide Airborne Geophysical Survey project slated for December.

“A team of experts from China tasked with carrying out the activity arrived in the country in September but the political situation has put their activities on hold,” he said.

Speaking in Voi on Thursday during a meeting with the mining community, Mr Kazungu said the Sh7 billion project will help in mapping the country’s mineral and natural resources with the aim of attracting more investment into the country.

The Jubilee administration had in July signed a government-to- government framework agreement with China to help in mapping natural resources.

He further said Kenya had lost an opportunity to hold an international mining forum slated for 2019 due to political uncertainty, following the nullification of the August 8 presidential election and the demonstrations that have rocked the country.

He said the International Colored Gemstone Association congress has been moved to Thailand.

“The congress was to be the first ever in Africa. We have missed that opportunity and are now aiming at 2021.”

Police break up Nasa’s anti-IEBC demo in Mombasa and Nairobi.


Leave a Reply

Your email address will not be published.


Drop a Comment Below

Nasa supporters defy Fred Matiang’i, protest in Nairobi County CBD

Two jobs, one man: Kiambu and Nyeri counties nominate the same agriculture expert