Base Titanium, the company mining titanium minerals in Kwale County, paid the Kenyan government a total of Sh2 billion in royalties and taxes in the six months ended December. It also paid its Australian parent firm a $30 million (Sh3.4 billion) dividend in the review period when it recorded a major earnings jump.
The miner’s net profit increased 11 times to $28.5 million (Sh3.2 billion) from $2.6 million (Sh292 million) the year before, helped by higher export volumes and rising prices of the titanium minerals ilmenite, rutile and zircon.
