Kenya to Revoke 35 Percent Local Ownership Rules

3 June 2013

Under plans for a new mining bill of 2013, Kenya plans to replace 'punitive' local equity shareholding rules with a 10 percent free carry

Kenya only introduced rules requiring 35 percent local equity shareholdings in its mining licenses in 2012, but the country's new government plans to revoke those terms under a new mining bill, which will replace the existing, outdated Mining Act of 1940 this year.

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