Kenya set to issue first ever gold mining lease

16/08/2011 - Kenya property & investment news Posted by Bob Brunskill
Kenya set to issue first ever gold mining lease

Kenya will issue its first ever gold mining lease later this year, thereby opening the way for commercial exploitation of the precious metal.It has been confirmed that Goldplat, one of the world's biggest gold companies, is to be awarded the lease to the large gold deposits in the Lolgorien area of Narok County.Speaking to Business Daily, Moses Masibo, commissioner of the mines, explained that the lease will be issued upon the expiry of the 90-days allowed for public interrogation."We will issue Goldplat a special mining lease in October as prescribed in the law to allow for commercial exploitation of gold at its Kilimapesa site to begin," he told the news provider.While there is a three-month window for the public to raise any objections to the firm's activities in the specified location, Mr Masibo said he does not expect any objections."It is an exciting time for our economy to gain from the record prices," he added.