Last Updated 13 years ago by Kenya Engineer
Base titanium limited, a subsidiary of Australian-Listed Resources Company has made its first shipment of 25,000 tonnes of ore to China.The IImenite export cargo will be shipped abroad MV African Eagle to DuPont titanium Technologies, a manufacture of titanium dioxide pigment for white paints.
The license for export of the cargo was issued yesterday and lasts for two weeks before a new licenses is issued. The Government of Kenya has boosted the investment with Ksh 1billion with compensation plan to the community and taxation waivers.
Speaking at the launch, Cabinet Secretary for Mining Najib Balala said “Government has laid out 4,250 acres of land to facilitate the partnership that will cost Sh35 billion to commence.”
This will help Kenya gain immediate growth potential and it will greatly contribute significantly to driving economic growth not just in mining but in other related areas like transport, energy, construction and finance.
Mining is a delicate industry and needs a conducive regulatory environment so that it can grow, raise revenues for the Government and meet local economic development for regional communities.
Base titanium will start shipping three distinct product streams from Kwale, 340,000 tonnes of IImenite, 80,000 tonnes of rutile and 30,000 tonnes of zircon annually.
Base titanium also has intentions of being listed at the Nairobi Securities Exchange by 2017 as soon as NSE listing rules permit and the Company has been relieved off debts.
Finally, the emergency of the investment will offer significant opportunities for local economic development through a focused local employment program and procurement of goods and services from local vendors.
Extract: Basetitanium.com and BD
-
Product on sale
AWEBook Volume 2Original price was: KShs 3,500.00.KShs 3,000.00Current price is: KShs 3,000.00.
