Kenya Mining Forum is a premium annual mining investment event that showcases Kenya’s ‘open for business’ potential.
The forum will be a stakeholder-led gathering focused on a specific delegate profile with a distinct end goal – the search for credible investors in Kenya’s mining industry, as well as associated support services.
Supported by case studies and presentations, growth strategies and market data, the inaugural edition of Kenya Mining Forum will showcase the country as an emerging destination for mining.
Our discussion with the Ministry of Mining and key stakeholders in the region highlighted the fact that is an opportune time to promote investment in Kenya as they recently approve the Mining Act in May 2016, providing more transparency and credibility for investors. Moreover, Kenya has been working with McKinsey on a 20-year mining plan that already highlighted a potential of USD 62.4b mining revenues. This is going towards the objective to contribute to 10% of the GDP in 2030 against 1% in 2015.
Kenya Mining Forum is an early-to-market investment platform bringing stakeholders together to facilitate investment and development of Kenya’s mining sector. Kenya is still in early exploration of its mineral potential. To become the annual high-level meeting place supporting Kenya to position itself as a regional mining sector hub for Eastern Africa.
Kenya Mining Forum is an annual meeting place for East Africa mining stakeholders to share and present their policies setting in the region. Evolving the mining conference toward a regional exhibition will allow us to create a consistent platform for Kenya, Tanzania, Ethiopia and Uganda, existing solid trade partners.
The goal is to settle robust legal framework along with transparent processes in line with Kenya’s mining vision. We want to establish and consolidate Kenya’s position as a regional mining hub in order to use the sector as a key driver for socio-economic growth.
Kenya has a high mining potential and already ranks as the third largest producer of soda ash and the seventh producer of fluorspar in the world.
Located in East Africa, Kenya shares its borders with Tanzania, Uganda, South Sudan, Ethiopia and Somalia. It is considered a hub for financial, transportation and communications infrastructures in East Africa.
Why you should invest in Kenya’s mining sector?
What you should know before you go…
- Initially, the country was mapped as an agricultural zone and in previous generations, this led to reduced exploration for minerals.
- Regardless, Kenya is the third largest producer of soda ash in the world and the seventh producer of fluorspar. Metallic minerals currently produced in the country include titanium, gold and iron ore. Export statistics for Kenya indicate a constantly growing sector.
- With further exploration and uptake of mineral rights then, it is estimated that Kenya will have the capacity to position itself as a regional mining sector hub for Eastern Africa. The recent discoveries are estimated to be worth USD 62.4 Billion and will propel Kenya to the list of top five countries with rare earth deposits in the world. In addition, the country has the world’s top six deposits for Niobium.
- Commercial deposits of coal have been discovered in the north eastern region of the country and are currently under review for potential uses and production. The coal deposits in Kitui are being billed as a source of cheaper energy to drive Vision 2030, the economic blueprint that aims to make Kenya an industrialised country in 20 years.
- Currently, 67 per cent of Kenya’s power is generated from hydro sources, 10 per cent from geothermal and 23 per cent from thermal sources, which is price-sensitive to fluctuating international fuel prices. The anticipated mining of coal would free some of the country’s foreign exchange reserves for other purposes.
What is being done on a legal and regulatory system?
- Kenya’s government is recruiting McKinsey & Co. to design a 20-year mining plan that will guide development of the nascent industry. A key component of the plan to be designed by McKinsey will be an airborne geological survey.
- While Kenya may not be a the first choice for mining in the region (compared to Tanzania or Mozambique), its political and economic stability and role as a regional hub makes it an attractive non-high risk new mining to open up.
- The Ministry of Mining has intensified efforts to acquire mineral and geological data. A countrywide aero magnetic survey project is expected to begin imminently. Additionally, the Ministry has upgraded data acquisition and processing systems and it is anticipated that access to national geological data for investors will be simplified considerably.
- Ministry of Mining is pursuing international accreditation for mining certification for its laboratory in Kenya. The laboratory will provide qualitative mineral analytical services, certify minerals, identify various precious and semiprecious minerals, carry out research on mineral analytical techniques; and provide assay and lapidary services.