The Ministry of Petroleum and Mining unofficially shut down the mineral exporting industry in Kenya last Wednesday (11th December) during the busiest time of the year which many exporters rely on to make up losses from weaker quarters.
There has been no communication from the Ministry in any official capacity and exporters are treated to a wall of silence both at Madini House and Public Works building. There are serious questions to answer as to whether this is a legal move by Ministry. The Mining Act 2016 provides protection from this sort of political “roadside declaration” specifically to protect investors in the sector. Shutting down legally licensed taxpaying companies with no explanation, reason or legal standing , furthermore with no communication whatsoever is not in keeping with the government’s stated Big 4 agenda.
KCM has requested an explanation and clarification from the Ministry but to date has received no response.
Meanwhile companies keep losing orders, the country continues to lose foreign exchange and Kenya’s reputation in the Mineral industry as an investment friendly destination is worsening daily.