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Through the National Mining Corporation (NAMICO), the mining ministry recently organised the inaugural 2024 Mining Investment Conference and Expo (M.I.C.E-2024) in Nairobi.
The conference sought to address policy concerns from stakeholders, showcase mineral development opportunities in Kenya, and assess the current status of the industry, offer premium networking platforms and display an interactive expo.
This year’s theme, “Exploring the Role of Critical Minerals in Strengthening Foundations and Unlocking Business Opportunities for a Sustainable Future,” zoomed in on the pivotal role critical minerals play in promoting sustainable economic growth and paving the way for business innovations.
Speaking during the conference, Mining, Blue Economy and Maritime Affairs Cabinet Secretary Hassan Joho said that the recently concluded geological mapping of Kenya’s mineral resources highlights the opportunities for exploration and development.
“The main focus is to have mining contribute significantly to the country’s Gross Domestic Product (GDP) from the current 1 per cent to 3 per cent and also to ensure that Kenya become a mining powerhouse in the region,” said CS Joho.
The Ministry is said to have undertaken an evaluation of mining permits with the Ministry to determine the contribution of the mining sector to weed out investors with multiple dormant mining licenses to promote responsible extraction and value addition.
According to the CS, the government is actively looking at prospects to the tune of up to Ksh.120 billion cumulatively in terms of investment needed to optimize the mining areas – a value expected to rise.
The inaugural conference brought together the various stakeholders in the mining larger sector to discuss available opportunities in mining,
Speaking at the event — Principal Secretary, State Department for Mining in the Ministry of Mining, Blue Economy and Maritime Affairs Elijah Mwangi noted the fact that there were a myriad of business opportunities in mining – which needed to be exploited for economic growth.
The event brought together mining stakeholders from Kenya and cross the world.
Speaking at the event, Alice Muthama, a local mining investor, asked the government to consider adopting an open-door policy – and among other things invest in the training of gemologists as it is truly important to the development of the industry.
She said: “A collaborative approach is vital to create an environment that presents the mining industry as a safe investment space where both local and international investors are assured of stability agreements, dispute resolution mechanisms, investor incentives and property rights.”
The inaugural event was also attended by the Chairman of the NAMICO Board Hon Joseph K. Kiplagat, CEO of National Mining Corporation Edward Omito among other officials from the ministry.
The ministry is determined to have as many people as possible join the journey to unlock untapped mineral potential and drive impactful growth.
By Citizen Reporter