Kenya reviews mining code, seeking ‘win-win’ for state and investors
Nairobi — Kenya is reviewing its mining code, a year after enacting new legislation, as it seeks to attract investment into an industry that has 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 balances investor returns with the government’s revenue needs and international best practice, Mines Secretary Dan Kazungu said. The review was expected to be submitted to the ministry in the next few weeks, he said. "We want to be attractive, but we also want to get the most out of our resources, based on the spirit of win-win," Kazungu said in an interview June 30 in the capital, Nairobi. "The investor must get a good return on their investment, but win for government, and win for the community as well." Mining companies are facing similar legislative disruption in other African countries. In SA, the Chamber of Mines is going to court to challenge new rules in the l...
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