• Home
  • Business News
  • Weekly Reviews
  • Market Reports
Monday, May 19, 2025
  • Login
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
No Result
View All Result
Home Business News

Kenya Government Set to Evaluate Mineral Wealth and their Feasibility in 2021

Trading Room Reporter by Trading Room Reporter
in Business News
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter

Kenya will know the value of all mineral wealth in its territory when the National Airborne Geophysical Survey is completed in 2021.

RELATED POSTS

Asian Markets Post Gains After Weeks of Drop As Trade Wars Hold

Stanbic Bank Launches Platform to Enhance Access to Chinese Markets

Oil Prices Soar as Iran fires missiles at Israel

President Uhuru Kenyatta announced during Mashujaa Day marked in Kisii County that the National Airborne Geophysical Survey which is being implemented at a cost of Kes 4 billion is now 70 percent complete.

The president backed sourcing of the contract locally as having saved taxpayers billions of shillings.

“In respect to the mapping of our national resources under the National Airborne Geophysical Survey, a private firm had quoted to do this at a cost of Kes 30 billion,” President Kenyatta said.

According to the Ministry of Petroleum and Mining, the exercise which begun in 2018 will further reveal Kenya’s geological, geophysical, geochemical and geo-hazard data which will be kept in the country’s Geo-Data Bank.

The survey which involves the use of aircraft to collect information below earth’s surface using high-tech cameras and sensors covers all of Kenya’s territories including forests, water masses as well as Kenya’s steam potential.

“With the completion of this seminal project, the comprehensive geology of our country is now known. That information will be used to charter paths to prosperity and self-sufficiency for host communities and the wider Kenyan Nation,” President Kenyatta added.

Buy JNews
ADVERTISEMENT

The Mineral Act,2016 requires that royalties earned from the resources are shared, where the National Government gets 70 percent, County Government 20 percent and 10 percent goes to communities where mining occurs.

The data collected is expected to enhance investment in the sector and boost its economic contribution to about 10 percent from the current 1 percent.

In 2019, the country’s earnings from mineral production stood at Kes 29.1 billion compared to Kes 30.8 billion in 2018, a decline of 5.5 percent.

Big share of the earnings came from three titanium ore minerals; ilmenite, rutile and zircon which earned a combined Kes 19.6 billion of 486, 152 tonnes produced. Gold on the other hand earned the country Kes 1.4 billion last year compared to Kes 2 billion earned in 2018.

While e-commerce has recorded a steep growth in urban areas since the coronavirus pandemic outbreak in March, its adoption has been slow in rural Kenya due to unavailable location data online, among other challenges.

The completion of geospatial mapping up to sub-location level and which had not been conducted since 1972, now paves the way for roll out of the National Addressing System that has been under development since 2016.

This now means location and address of all buildings, streets, geographical features in the country will be available on services such as Google Maps, making ride-hailing services and delivery of goods bought online easier.

“Because of this the next frontier of e-commerce within our nation will be powered by the National Address System that will be rolled out across our nation. The e-commerce trade channel will be serviced with drones made by Kenyans for Kenyans” President Kenyatta said.

The mapping has similarly helped the government keep inventory of all schools, hospitals, public utilities and infrastructure.

Post Views: 1,197
Tags: Base TitaniumCommodities MarketsMining in Kenyaspotlight
Previous Post

Wall Street Closes Higher As Pelosi Sparks Stimulus Optimism

Next Post

Asian Markets Mixed as Oil Drops a further 1% to $42.72

Trading Room Reporter

Trading Room Reporter

Related Posts

Global Markets Asian markets
Business News

Asian Markets Post Gains After Weeks of Drop As Trade Wars Hold

by Rennie Odek
Muya Guo Head of Chinese Segment at Stanbic Bank Kenya
Business News

Stanbic Bank Launches Platform to Enhance Access to Chinese Markets

by Felix Ochieng
Brent Crude Oil Prices WTI
Business News

Oil Prices Soar as Iran fires missiles at Israel

by Githere Eddie
Kakuzi logo
Business News

Kakuzi Plc Joins the List of NSE Firms Issuing Profit Warning for 2023

by Felix Ochieng
Next Post

Asian Markets Mixed as Oil Drops a further 1% to $42.72

Hong Kong’s Cathay Pacific Airways to Cut 8500 Jobs in Largest Aviation Restructure.

NSE trading

Market Report; 21 October,2020

Advertisement Banner Advertisement Banner Advertisement Banner
ADVERTISEMENT

Most Viewed Posts

  • Tea Farmers Set to Receive Kes 28 Billion as Final Bonus Payment (4,098)
  • 4 Things You Can Do With the Cashlet App to Achieve Your Financial Goals (2,189)
  • Hilda Njeru Takes over at CDSC (2,056)
  • Safaricom Finally Launches eSIM: Here’s What You Need to Know (1,899)
  • KenGen Gets Nod to Sell 4 Million Tonnes of Carbon Credits (1,798)

Follow Twitter

About Us

Follow Us

Popular Tag

Africa Asian - Pacific Stocks Asian Stock Markets Australian Stocks Bitcoin Bonds Kenya Bonds Trading in Kenya Brent Brent Crude Capital Markets Authority Central Bank of Kenya Corona Virus Pandemic Crude Oil Cryptocurrencies Derivatives NSE Derivatives Trading in Kenya Dow Jones Industrial Average Ethereum European Stock Markets Global Economy Global Markets Hang Seng Index Investing in Kenya Investor Briefing Jakarta Stock Exchange Kenya Economy Kospi index MSCI Index Nairobi Securities Exchange NASDAQ New York Stock Exchange Nikkei N225 NSE Oil Futures S&P 500 Index Safaricom Plc Shanghai Composite Shenzhen component spotlight Stock Market Report Stock Market Review U.S. Stock markets US oil Wall Street WTI Oil Index

Recent News

Equity Group Africa Guarantee Fund

Equity Group Receives 500Mn from AGF in MSMEs Financing Deal

Image of workers of NSE discussing Market report

NSE Market Report 11 April 2025: Britam moves 15.1 Million Shares

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 The Trading Room Limited.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
TSLA 
$349.98  2.09%  
GME 
$28.45  0.63%  
MSFT 
$454.27  0.25%  
AAPL 
$211.26  0.09%  
AMC 
$2.95  4.98%  
ABNB 
$138.00  0.88%  
GOOGL 
$166.19  1.36%  
AMZN 
$205.59  0.20%  
No Result
View All Result
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports

© 2025 The Trading Room Limited.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?