Last Updated 13 years ago by Kenya Engineer
By Mercy Nduati
Mining companies and small scale dealers are set to enjoy a dealership permit at Sh 1,000 a year in rates of acquiring exploration and mining licenses.
This deal will target small scale dealers who previously paid Sh 20,000 for dealership licence and reduce illegal trade in minerals.
The objective of the dealership permit is to encourage local people to participate in mineral trade and curb unlawful deals in minerals.
The new rules to be published soon will introduce exploration and mining permits that will be cheaper compared to the existing prospecting and mining licences. The rules will apply only to Kenyan mining firms and will offer permits targeting investors for Sh5,000 a year.
Penalty of Sh10, 000 per square kilometer will be accorded to those who fail to give up part of their exploration acreages after the lapse of the period.
This will make local extraction sector competitive by daunting hoarding of prospecting land by mining companies.
Currently, foreign and local mining companies pay Sh 250 and Sh 600 per square kilometer for prospecting and mining licenses respectively.
Extract:Daily Nation
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