President William Ruto has announced government plans to put up a multi-billion gold refinery plant in Western Kenya.
The gold refinery is targeting gold miners in Siaya, Migori, Homa Bay, and Kakamega counties, who despite being in the trade for many years have not made meaningful gains.
Small-scale miners in western Kenya were set to benefit immensely from the project which will boost the region’s economic development.
Artisanal miners in the region are often exploited by middlemen in the torturous small-scale gold prospecting business.
Exploration firm said in their latest market update that it has established high-grade gold deposits estimated at 1.6 million ounces in Kakamega County, with a current market value of Sh364.8 billion.
Mining, Blue Economy and Maritime Affairs Cabinet Secretary, Salim Mvurya, had revealed that the Ministry was in the process of evaluating bids.
Small-scale gold miners in the country face vast environmental and socio-economic challenges, impeding their full potential in economic contribution.
The Government has implemented strict measures to streamline operations in the gold mines sector, aiming to establish a large, ready market for the region.
The Government has lifted a licensing moratorium, urging miners to engage in trade and develop a policy on mining, processing, and value addition to unlock potential.
