Market News
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Rwanda: New Smelting Plant to Boost Mining Sector
Posted on :Thursday , 22nd January 2015
Phoenix Metals LTD, a local factory, yesterday began smelting cassiterite into tin, a move set to boost Rwanda's revenue collections from mineral exports.
Rwanda's mineral ores produced in the country are exported as 100 per cent mineral concentrates. With the smelting plant taking shape, it will be possible to export semi-processed tin, whose market value is higher. . .Kenya to revoke controversial mining tax
Posted on :Tuesday , 20th January 2015
Less than a month after Uhuru Kenyatta was sworn in as Kenya's new president, his administration is planning to revoke rules passed in 2012, which impose 35% local equity shareholding in the country’s mining licences, reports Business Day.
Unlike most African governments, Kenyatta’s is not seeking larger ownership stakes in foreign miners with the upcoming mining bill. . .Kenya to form state-owned mining company
Posted on :Tuesday , 20th January 2015
The Kenyan government announced last week it will form a national mining corporation, reports the Daily Nation.
The state-owned company will handle joint ventures with the private sector.
Najib Balala, the government's cabinet secretary in charge of mining, also said a new mining bill will ensure mineral investments work in the public interest.
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