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Miners ask ministry to cut royalties
Kenya’s royalties for base metals stand at eight per cent of gross sales, according to a Kenya Gazette Legal Notice 187 by Mining secretary Najib Balala (pictured). FILE
Mining industry players are set to discuss royalties in Africa as local investors push the subtle message that Kenya’s rates are on the higher side.
A recent comparison published by the Mining ministry and those derived from the African Development Bank (AfDB) research and the Kenya Chamber of Mines (KCM) show Kenya’s charges are higher, although the verdict does not take into account the controversial tax holidays granted the largest miners.
