Kenyan mining act to help attract new major investments
A historic and outdated Kenyan mining act, which held back investment in the sector, has been replaced by a new mining act designed to work closely with new mine developers to ensure maximum benefit for Kenya.
In an interview with Mining Review, Kenya’s new Mining Cabinet Secretary/Minister of Mines Hon. Dan Kazungu, believes that Kenya is an attractive mining destination for new developers due to only a small number of companies operating in the country.
“With just a handful of companies operating in the country, Kenya is an attractive mining destination which offers mining companies and investors vast opportunities to discover and tap into new Greenfield projects,” he says.
Kazungu believes the “historic and outdated” colonial mining act which was passed in 1940 is largely responsible for the lack of major investment in the sector. But, after two years or negotiations with the Kenyan Chamber of Mines and its members, the Kenyan President Uhuru Kenyatta signed the new mining act in May this year.
The act calls for an open and transparent legal framework with regulations in place designed to ensure maximum benefit for both Kenya, both current and potential new mine developers and their shareholders.
“We have now positioned ourselves for a significant upturn in mining investment which will see this country become a world-class mining jurisdiction and contributor to widespread economic transformation in Kenya and even possibly the new mining hub for the entire East African region.” He said.
Be sure to follow @MiningGlobal for news and latest updates!
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.