Government to establish new nine-member gold mining corporation
Government to establish new nine-member gold mining corporation
The government will establish a new nine-member gold processing corporation to oversee the licensing and regulation of gold mining and processing activities in the country after the National Assembly approved the Gold Processing Bill, 2023.
The corporation will serve as the central institution for licensing and regulating gold processing and will have broad powers over activities across the sector.
Its responsibilities will include collecting, sampling, purifying, smelting, fabricating, homogenising, registering, refining, monitoring and transporting gold and gold products.
The establishment of the corporation comes amid the discovery of gold deposits estimated to be worth Sh683 billion in Western Kenya.
In consultation with the Cabinet Secretary for Mining, the corporation will issue permits to individuals and companies seeking to undertake gold exploration and exploitation in the country.
A processing licence issued to an individual or company will remain valid for 25 years and may be renewed for a further period of up to 15 years.
The Bill also sets out penalties for those who undertake gold exploration or exploitation without a permit.
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“A person who engages in exploration and exploitation of gold without a permit commits an offence and shall, upon conviction, be liable to a fine not exceeding 10 million shillings or to imprisonment for a term not exceeding ten years, or to both,” reads the Bill.
Sponsored by MP Bernard Shinali, the Bill gives the corporation wide-ranging responsibilities in regulating gold processing and refining in Kenya.
Among its key functions will be setting and enforcing national standards for gold refineries and facilitating international accreditation for refinery operations.
The corporation will also oversee the registration and licensing of gold refineries operating in the country.
It will further develop, maintain and regulate national standards for gold handling in line with international requirements.
The corporation will therefore play a central role in overseeing gold processing and related activities, including licensing operators and ensuring that the sector complies with national and international standards.
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