KENYA MINING ACT, 2016
This article highlights some of the prominent features of the Kenya Mining Act 2016.
This law became effective on May 2016 and it affects as stakeholders in the industry.
The law provides for benefit sharing of the proceeds or royalties from mining.
Find below excepts from the Kenya Mining Act 2016 for your review and comments.
183 (5) of The Mining Act, 2016 provides that royalties payable by mining companies shall be distributed as follows:-
a) 70% to the National Government;
b) 20% to the County Government; and
c) 10% to the community where the mining
operations occur.
This is not happening right now. The National Treasury is on the process of creating a Mining Trust Fund where the royalties shall be accumulating for eventual sharing among the above mentioned parties.
We request the National Treasury and the other responsible parties to fast track this process so that the mining host communities can enjoy the fruits of mining.
Read More:
