Kenya in Talks With Base, Goldplat on New Ownership Rules
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Kenya’s Natural Resources Ministry said it asked mining companies including Base Resources Ltd. and Goldplat Plc to submit proposals on how they will comply with local ownership rules introduced this month.
The East African nation on Oct. 12 gazetted a law stating that all mineral rights should be 35 percent owned by Kenyan citizens. The amount of time that companies will be given to comply with the new legislation will be determined on a case-by-case basis, Ali Mohamed, permanent secretary in the ministry, said in a phone interview on Oct. 29.