The government has announced the discovery of 28 new locations rich with gold, limestone, phosphates, and other essential base metals vital for the construction and industrial sectors.
The Ministry of Mining, Blue Economy and Maritime Affairs has pinpointed sites in the Western region of the country, scattered across Bungoma and Busia counties as well as throughout Eldoret Town. READ FULL STORY
This was confirmed by Martin Nyakie, Principal Superintendent of Geology at the Mining State Department, who signalled that a possible economic upturn was imminent for the traditionally agricultural Western and Rift Valley counties.
Areas like Mt. Elgon, Bungoma Town, Kama’et, and Lupida Myanga have been earmarked as prospective reserves of phosphates, manganese, limestone, silver, and zinc.
“This discovery transcends administrative boundaries,” noted Nyakie emphasizing the complexity of the classification of minerals per jurisdiction.
Findings show that Bungoma County’s sites are mainly rich in a combination of gold, base metals, and limestone phosphates, while pure gold deposits have surfaced in Lupida Myanga on the border of Busia and Eldoret counties.
The Mt. Elgon region was found to hold a diverse array of minerals including phosphates, manganese, limestone, silver, and zinc.
According to the government, it is impossible to determine how much money could be earned from the deposits following the recent discovery.
Projections by the Kenya National Chamber of Commerce and Industry (KNCCI) predict that the mining industry has the potential to contribute 10 per cent to Kenya’s GDP up from 1 per cent that is currently remitted by the sector.
In 2023, the Treasury reported a significant Ksh120.3 billion contribution from the mining and quarrying sector, highlighting the sector’s economic capability.
If well supported, the industry could offer substantial revenues that could contribute to the Kshs 346 billion revenue gap sought by the government in the rejected Finance Bil 2024.
