New Mineral Development Levy to Impact Kenyan Mining Sector
In a move aimed at boosting sustainable mining development, the Kenyan mining sector is set to face a new mineral development levy.
Consequently,this levy will apply to every mineral, including salt and cement. According to Elijah Mwangi, the Principal Secretary Ministry of Mining-
the additional levy is expected to propel the growth and development of Kenya’s mining sector.
“The new mineral development levy will play a vital role in propelling sustainable mineral resource development in Kenya,” stated Elijah Mwangi, the Principal Secretary Ministry of Mining.
Meanwhile,to support this initiative, Salim Mvurya, the Cabinet Secretary Ministry of Mining, has signed four regulations.
These regulations are designed to catalyze the growth of the mining sector in Kenya.
“While each regulation speaks to a critical component in the mineral and mining eco-system.”
“They jointly seek to address the vital aspects touching on mineral development, mining sustainability, value-addition, and mining sector promotion,” commented the Principal Secretary Ministry of Mining.
However the regulation included,
-The regulations include the Mining (Mine Support Services) (Amendment) Regulations,2024;
-The Mining (Gemstone Identification and Value Addition) (Fees) Regulations,2024;
-The Mining (Dealings in Minerals Amendment) Regulations,2024; and the Mining (Licence and Permit) (Amendment) Regulations,2024.
According to PS , these regulations are crucial in addressing various aspects of mineral development,
mining sustainability, value-addition, and the promotion of the mining sector.
Each regulation focuses on a critical component of the mineral and mining ecosystem.
Furthermore, the new regulations have resulted in the review of charges related to the application and processing of mineral licenses in Kenya.
“The State Department for Mining is committed to continually developing and reviewing regulations to promote miners and drive strategic investments in the mining sector,” affirmed the Principal Secretary Ministry of Mining.
However,this move is expected to have a significant impact on the mining industry in Kenya.
It will provide the necessary framework and support for sustainable mineral resource development,
while also encouraging value-addition and promoting the sector as a whole.
Thus, the focus on sustainability and value-addition is seen as a positive step towards maximizing the benefits of Kenya’s rich mineral resources.
As the mining sector adapts to these new regulations, it is anticipated that it will become more competitive and attract both local and international investors.
“With the new regulations in place, we expect the mining sector in Kenya to become more competitive and attract a wider range of investors,” stated an industry expert.
However,With the government’s commitment to supporting miners and driving strategic investments, the future of the mining sector in Kenya looks promising.
“The government is dedicated to supporting miners and driving strategic investments in the mining sector,” affirmed the Principal Secretary Ministry of Mining.
Morever,the mining sector in Kenya holds immense potential, and these new regulations are a step forward in harnessing that potential for the benefit of the country and its people.
