Economy

Mining earnings hit Sh6.8bn on increased licensing income

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Mining PS John Omenge. PHOTO | MARTIN MUKANGU

Three-fold growth in revenues generated from permits and licences lifted earnings of Mining ministry to Sh6.8 billion in the year to June 2018, officials have said.

Mining PS John Omenge told Parliament that revenues from permits and licences were three times up compared to 2016/17.

“We have registered impressive growth in revenue since enactment of the Mining Act 2016.

“Licensing and permitting registered three times what was collected in the previous years. We have also noted a marked rise in royalties,” said the PS.

Mr Omenge attributed the growth of revenue to the ministry’s decision to work with industry players and other sector stakeholders.

“It is due to increased collaboration with Kenya Chamber of Mines, industry players and civil society that we have seen growth in our revenues.

“We hope to collect even more money by the end on June this year,” he told the Public Accounts Committee during the scrutiny of the State Department of Mining books of accounts for 2015/16 financial year.