Nairobi, December 31st 2023- The Kenya Chamber of Mines (KCM) has expressed confidence in the potential of the country’s mining sector to significantly contribute to Kenya’s economic growth.
Dr. Kanyoro Patrick, Chairperson of the Kenya Chamber of Mines, says that the mining industry has only contributed a modest 0.7% to Kenya’s GDP over the last decade and therefore KCM is determined to collaborate with the Kenya Kwanza administration to demystify mining as an economic activity. He says this will increase to 10% the country’s GDP by 2030, amounting to over USD 10 billion.
The Chamber acknowledges the impact of climate change on key sectors like agriculture and tourism, emphasizing that the mining sector can provide essential countermeasures to support rural livelihoods and enhance Kenya’s economic outlook. The global demand for green minerals, including lithium, graphite, copper, cobalt, and nickel, positions Kenya to play an important role in the emerging green mineral revolution.
In addressing historical challenges, KCM appreciates recent government initiatives, such as the partial lifting of the moratorium in October 2023 and the formalization of artisanal mining. The appointment of the Chairperson of the Mineral Rights Board and the State Department for Mining’s consultative approach are seen as positive steps towards revitalizing the sector.
KCM adds that the decision to enlist some minerals aligns with the industry players’ goals, seeking engagements to ensure a seamless transition, particularly for green garnet and copper. The industry supports the administration’s policy on value addition, emphasizing that it will unlock real employment and wealth creation opportunities.
The organization says that efficient and timely issuance of prospecting and mining licenses is crucial for attracting both domestic and foreign investors. It stresses the importance of creating a balance between people, profits, and the planet, emphasizing the need for inclusive consultations and support for the Bottom-Up Transformation Agenda (BETA).
As the sector looks forward to enhanced domestic resource mobilization and import substitution strategies, KCM calls for honest engagements to address issues like smuggling. The organization supports ASMs in joining cooperatives for mutual benefits and envisions Kenya as a bastion of investment and economic progress through embracing the concept of “madini jua kali.”
Established in 2000, KCM represents the interests of various stakeholders, including miners, exploration companies, mineral dealers, processors, suppliers, and professionals.
Reporting by JAMES MUTUA
