A British mining company is stuck with iron ores valued at $60 million (Sh7.8 billion) at the port of Mombasa which it cannot sell in the global market after the national government introduced an export levy of $175 (Sh22,925) per tonne of the industrial mineral.
Fujax East Africa, a local subsidiary of UK-based Fujax Group Ltd, says it is stranded with approximately 530,000 metric tonnes of iron ore which was meant for export.
