Government of Kenya signs contracts with fluorspar investor
The government has signed a Sh4.8 billion mining contract with a mining investment company in a move that has paved the way for the historic revival of fluorspar mining operations in Elgeyo Marakwet.
The signing, done on Friday between the state and Soy-Fujax joint Venture, is being hailed as the most deliberate move towards the fulfillment of the pledge by the government to revive the fluorspar mining operations.
Speaking after signing of the contract, the Cabinet Secretary for Mining, Blue Economy and Maritime Affairs Salim Mvurya said that mining remained at the heart of Kenya’s economic transformation.
He hailed the signing of the contract terming it as the key ingredient that would activate and resumption of fluorspar mining activities in Kerio Valley after years of production hiatus.
“Today we have signed this contract that will unlock the job opportunities for hundreds in addition to generating revenue for residents, the county, and the government,” Mvurya said.
The joint venture is a tripartite arrangement that brings together Soy Flouspar (K) Limited, Fujax UK, and Fujax East Africa.