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Lobby warns Kakamega gold belt standoff risks pushing away investors
In an environmental impact assessment report filed with the National Environment Management Authority (Nema), the firm revealed that it plans to invest $208 million (Sh26.86 billion) in the project.
The Kenya Chamber of Mines (KCM) has warned that growing political interference and mounting tensions in the Kakamega gold belt could undermine investor confidence at a time when the country is seeking new capital for the extractive industries.
The lobby on Thursday sounded the warning after British-owned Shanta Gold Kenya Limited announced plans last month for underground gold mining in Kakamega, sparking deadly confrontations over likely displacement and proposed compensation for residents.
