Market News Page No. 163| Africa Business News | Afrotrade

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China, Kenya sign deal to fund Kenya�s airborne mineral survey

Mining Cabinet Secretary Dan Kazungu said in a statement released on Wednesday that the National Treasury has signed off a multi-billion-loan agreement with China’s Exim Bank, paving the way for the funding of Kenya’s nationwide airborne geophysical survey. “The 70 million U.S. dollars project is set to map Kenya’s minerals and natural resources in order to attract more mineral investment into the country.... Read more »

Posted on : Monday , 11th September 2017

Kenya: Future Starts to Look Up for Titanium Firm As Prices Soar

Local mineral producer Base Titanium is headed for a good run as ilmenite and rutile witness an upsurge in prices oversees. The price of ilmenite has soared due to a dip in supply against an upswing in demand on the international market, while demand for zircon has strengthened owing to lower than anticipated global production of the ore. This has led to an increasingly tight market and solid price improvements this.... Read more »

Posted on : Monday , 11th September 2017

Mining the next economic frontier

Mining Cabinet Secretary Dan Kazungu was recently quoted as saying that “mining is the next economic frontier for Kenya, so get on board and be part of the mining boom”. Following the enactment of the Mining Act 2016, Mr Kazungu has been leading a national and international charm offensive to attract investment in the mining sector, while also advocating the interests of small-scale miners. One would expect.... Read more »

Posted on : Monday , 11th September 2017

Royalties: Vaaldiam Mining earns millions in royalties from mines years after exiting

NAIROBI, KENYA: Canadian firm, Vaaldiam Mining Inc, earned a tidy Sh310 million during the year to June 2017 from the Kwale mineral sands project operated by Australian miner —Base Resources. While Vaaldiam might be unknown to many Kenyans, its predecessor Tiomin Resources is familiar to many and particularly to coastal residents. For more than a decade, the firm struggled to move the titanium mines of Kwale to production. Acquired.... Read more »

Posted on : Monday , 11th September 2017

Kenya seeks better revenues from quarries

The move is intended to protect the environment and increase revenue from the quarry sub-sector. Mining Cabinet Secretary Dan Kazungu says lack of regulation in the sub-sector has led to degradation of the environment, misuse of revenues meant to be remitted to the national government, investors and the communities. “Despite the challenges in the sub-sector, there are also numerous opportunities for Kenyans to tap.... Read more »

Posted on : Monday , 11th September 2017

Only one gold dealer licensed, says Mining CS

The Government is cracking down on firms and individuals illegally trading in minerals in efforts to clean up the mining industry. The Mining ministry has said only three firms have been licensed to undertake mineral dealings in the country, meaning that dozens of companies that claim to have dealer’s licences are undertaking the trade illegally. In a public notice issued on Friday, Cabinet Secretary Dan Kazungu said only Aurical.... Read more »

Posted on : Monday , 11th September 2017

Kenya reconsiders mining laws to address lack of mining growth

Kenya looks set to review its mining laws as the industry has struggled to grow over the past five years. After only one year since enacting new legislation, the Kenya government is looking at new ways to attract investment into the lagging mining industry, one that’s seen insignificant growth over the past five years. Working with the U.K. Department for International Development-funded Extractives Hub, Kenya seeks.... Read more »

Posted on : Monday , 11th September 2017

Construction players want adoption of versatile building materials

National Construction Authority Director Daniel Manduku says the proposed Building Code Bill awaiting debate in parliament, if passed will allow for a review of construction materials used locally in favor of more cost effective and environmental friendly products. Kenya’s construction industry is accelerating at a rapid pace and making a substantial contribution to the country’s strong GDP growth figures on the.... Read more »

Posted on : Monday , 11th September 2017

Promoting research in building industry

The construction industry is a focal point for the economic growth of any country. According to the Economic Survey 2017 Report, it is estimated that the industry expanded by about 9.2 per cent in 2016 and recorded increased activity in the construction of roads and development of housing. The expansion reflected an increase in employment in the construction sector from 148,600 jobs in 2015 to 163,000 in.... Read more »

Posted on : Monday , 11th September 2017

New Bill seeks to bar quacks from construction industry in Kenya

Players in the building and construction industry must register with a new professional body before they can be allowed to practice in Kenya. The experts, who also include project managers, must register with the Association of Construction Managers of Kenya (ACMK) before they undertake any construction work in Kenya. ACMK says Construction Project Managers & Construction Managers Bill 2017 will deal with malpractices that have.... Read more »

Posted on : Monday , 11th September 2017

Work underway on Africa�s tallest skyscraper in Upperhill, Nairobi

The mighty peaks of Kilimanjaro and Kenya are the highest points in Africa, towering over the East Coast nations. The mountains will soon be sharing a skyline with a man-made behemoth named simply: “The Pinnacle.” Kenyan President Uhuru Kenyatta recently laid the foundation stone for what will be the tallest building in Africa in the Upper Hill neighborhood of Nairobi. Construction is underway at the.... Read more »

Posted on : Monday , 11th September 2017

Mombasa-Nairobi expressway to be complete within six years

Kenya's first high-speed expressway connecting the country's two largest cities will take six years to finish, the Kenya National Highways Authority (KeNHA) has said. According to the State agency, design and construction of the 473-kilometre Mombasa-Nairobi road is set to begin after last week’s signing of a financing deal with US-based firm Bechtel International Inc. “The project will be supported with.... Read more »

Posted on : Monday , 11th September 2017

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