Desterio Oyatsi, investment bankers John Ngumi and Aly-Khan Satchu have joined the expanded board of Base Titanium.
The appointment appeared tailored to boost the voice of Kenyans on the board.
The government wanted the titanium miner to pay royalties at five per cent of exports and not the 2.5 per cent set in previous regulations.
Australia’s Base Resources has shaken up the board of its Kenyan titanium miner and appointed President Uhuru Kenyatta’s lawyer and two investment bankers as directors amid the government’s push for more royalties from the company.
Desterio Oyatsi, the managing partner at Shapely Barret & Company Advocates and the President’s lawyer, investment bankers John Ngumi and Aly-Khan Satchu have joined the expanded board of Base Titanium.
The appointment appeared tailored to boost the voice of Kenyans on the board which was previously made up of Joseph Maitha (chairman), Colin Bwye and Tim Carstens.
“The new board members will work to enhance Base’s relations with the Government of Kenya and will play a strong role in promoting the Kenyan mining sector, both domestically and internationally,” said the firm in a statement. “Their knowledge and experience in the Kenyan investment and regulatory environment will deepen Base Titanium’s ability to understand the Kenyan context, influence discussion and deliver on its strategic plans to the benefit of all stakeholders.”
Base Resources has previously been locked in rows with the government over payments of royalties with the Australian firm expressing its displeasure at State demands.
The government wanted the titanium miner to pay royalties at five per cent of exports and not the 2.5 per cent set in previous regulations. The firm had also accused the government of using the royalty dispute to deny it the full share of its Sh2 billion value added tax (VAT) refunds.
Mr Oyatsi has held brief for the President on a number of legal matters, including the International Criminal Court (ICC) where Mr Kenyatta, Deputy President William Ruto and radio journalist Joshua arap Sang were charged with crimes against humanity allegedly committed after the 2007 General Election.
He is the chair of Commercial Bank of Africa, which is associated with the family of the President.
Mr Ngumi is chair of Kenya Pipeline while Mr Satchu is an investment analyst.
Base Titanium, Kenya’s first large-scale international mining project, shipped the first consignment of minerals in February 2014 after years of delays.
Kenya exported titanium worth Sh12.8 billion in 2015 compared to Sh8.8 billion in 2014. Titanium is used as an alloy to produce lightweight metals for jet engines.
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