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Kenya to grow mining sector to contribute 10 pct of GDP

Xinhua, February 6, 2015 Adjust font size:

Kenya has set a target for the mining sector to contribute ten percent of the Gross Domestic Product (GDP) in the next ten years, up from the current one percent.

Deputy President William Ruto said Friday a new legal framework has been set up following the passing of the mining bill that will replace the current Mining Act that is 74 years old.

Ruto said by establishing the new ministry of mining, the government aims at increasing the contribution of minerals to the national kitty.

"We anticipate that the mining sector will contribute 10 percent to the GDP in the next 10 years as opposed to 1 percent currently," he said in Nairobi during the launch of an on-line transactional mining cadastre portal.

Ruto said the on-line transactional mining cadastre portal was a secure e-government system, through which companies and individuals will be able to administer their mineral rights on- line. It aimed at taking management of mineral rights to the next level.

"The portal is a revolution-where mineral rights application are done real time, renewal open and tracked from anywhere in the world," he said.

Ruto pointed out that the portal will enable better, reliable and timely presentation of mining related information and will also offer a transparent communication channel between government and its stakeholders, as well as greater efficiency through the reduction of paper based submissions.

He said Kenyans will make informed choices in regard to investing in the mining sector by accessing available on-line information and through other channels.

Cabinet Secretary for Mining Najib Balala said so far 66 unique minerals have been discovered in Kenya, adding that the government has earned about 8 million U.S. dollars from mineral rights royalties in the past seven months.

The government's target is to collect 11 million dollars for the current financial year.

Balala also said the National Assembly has already passed new mining law and is currently waiting for the senate's approval. "It will ensure more equitable sharing of mineral wealth," the CS said. Endi