By Eddah Waithaka
UK-based Soyfujax Mining Company on Friday signed a Sh4 billion deal with Kenya for the revival of flourspar mining in Elgeyo Marakwet County.
The deal was signed by Mines and Blue Economy Cabinet Secretary Salim Mvurya, who was accompanied by his Principal Secretary Elijah Mwangi and Fujax UK Regional Director Hendrick Ryst.
Under the terms of the agreement, the government will take a 15% stake in the mining operations, a strategic move to secure Kenya’s interest in the sector.
“I have overseen the signing of an agreement between the Government of Kenya and Soy – Fujax Mining Company for the revival of flourspar mining in Elgeyo Marakwet County. This is a 4.8 billion Kenyan shillings investment where the government will have a 15 per cent stake in the mining activities as per the Mining Act 2016. I urgent all mining investors to follow the law in acquiring licenses, ” said CS Salim.
The deal paves the way for job creation and regional development, injecting Sh4.8 billion into the local economy.
According to the government, the licensing process is going smoothly, and so far it has received 1006 applications for various licences submitted by investors during the entire Mineral Board licensing process in December and January.
“MRB processed 214 applications and by April all 1206 applications were submitted through online cadastre two of them were present, mineral dealer to also submit processed 140 mineral dealer or trading applications identified where investors have not been able to comply, tax compliance, idle for many years and to remove 106 applications because they are obsolete and do not meet the requirements of the law inspire mineral investment in the county value addition points, Elgeyo Marakwet, flourspar has been done for so many years,” the CS added.
The ministry also said it was working to attract a strategic investor to set up a gold refinery in Kakamega and a granite plant in Vihiga County.
Last year, the cabinet approved the lifting of the moratorium on mining licences in the county.
“We give them until 30 November 2023 to update their records in this regard and we have been involved in the process and we have urged investors to comply with the laws,” he added.
