In a report addressed to the Kenyan mining authorities, Shanta Gold emphasized that gold from this region had already been exploited in colonial times. For several years, the company has been conducting intensive geological research, which led to the discovery of high-quality gold ore deposits.
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Deposits in Kenya. The British are investing
The British company plans to invest over USD 200 million in the construction of a modern mine and a plant processing extracted raw materials. The exploitation of the deposits is expected to last at least eight years.
Shanta Gold representatives emphasize that the discovery may have a significant impact on the economic development of Kenya. The company estimates that it will transfer 1 percent of the value of mined gold to the government in Nairobi in the form of taxes and license fees, which will translate into an increase in budget revenues. The report also noted that the investment will contribute to the creation of new jobs, which may have a significant impact on the local economy.
Currently, Kenya's mining industry generates less than 1 percent of gross domestic product. However, the discovery of deposits in Kakamega may change this situation, strengthening the country's position in the region. Until now, the East African gold mining sector has been dominated mainly by Tanzania and Sudan.
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African gold giants
Across Africa, Ghana remains the largest gold producer, having extracted over 140 tons of this precious metal last year. DThe leading producers also include South Africa, Mali, Burkina Faso, Tanzania and Côte d'Ivoire.
However, it is not only Kenya that has reasons to be excited. In August, Liberian authorities announced the discovery of a potentially huge gold vein in Montserrado County. If the results of geological research confirm these reports, this deposit may turn out to be one of the largest not only in Africa, but also in the world.
