The Mining ministry recently raised application fees for large scale prospectors and miners nine folds from Sh50,000 to Sh500,000 for some minerals, in a bid to keep away speculators and free up space for big-ticket investors.
The new regulations, which started being enforced from last July, are meant lock out bids from speculators who have explored the “lower fees” in the past, to apply as many times as possible in the hope of being awarded mining rights which they then hawk to the highest bidder.
