The mining industry in Kenya is realizing exponential growth as foreign and local companies expand their exploration and expansion plans. This is further increasing the need for reliable and sustainable energy sources, especially off-grid solar PV systems, to power their operations.
Kenya’s mining sector is currently estimated to attract $644 million in foreign direct investment with potential to grow to $966 million, an equivalent of 6.4% of the country’s GDP, in the next five to seven years according to the Kenya Chamber of Mines (KCM), a lobby representing the interests of Kenya's miners, exploration companies, and mineral traders.
The government has continued to encourage investment in the exploration and production of oil, natural gas and minerals with many of the resources located in off-grid arid and semi-arid counties in the northern, north eastern and coast regions. Simplified oil exploration and production procedures and a new Mining Bill to repeal the current one that was promulgated during colonial times, are some of the factors endearing international companies to the mining industry.
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Kenya’s mining sector is currently estimated to attract $644 million in foreign direct investment with potential to grow to $966 million, an equivalent of 6.4% of the country’s GDP, in the next five to seven years according to the Kenya Chamber of Mines (KCM), a lobby representing the interests of Kenya's miners, exploration companies, and mineral traders.
The government has continued to encourage investment in the exploration and production of oil, natural gas and minerals with many of the resources located in off-grid arid and semi-arid counties in the northern, north eastern and coast regions. Simplified oil exploration and production procedures and a new Mining Bill to repeal the current one that was promulgated during colonial times, are some of the factors endearing international companies to the mining industry.
Read more....
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