[miningmx.com] – KENYA is due to pass a new mining law before the end of the year that will improve investment in the country, said Bloomberg News which cited the East African country’s mining secretary, Najib Balala.
Under the new law, the government will impose royalty rates ranging from 1% of the gross sales value of industrial minerals such as gypsum and limestone, to 10% for coal, titanium ores, niobium and rare-earth elements, and 12% for diamonds.
“There have been bad practices before, so we want to change that,’ Balala said. “This bill is good not only for the government, but also for the industry as it guarantees them stability, it guarantees them their rights. It also brings transparency to the process.’
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