Extractive and Energy

Kenya’s Gold value drops by 33 pc in 2016 to Sh653mn

NAIROBI, Kenya, May 22 – Kenya’s Gold value went down by 33 percent in 2016 to hit Sh653 million from Sh979 million in 2015.

This is according to data from the Kenya National Bureau of Statistics.

The data indicates that the decline saw the total value of Kenya’s minerals declining to Sh23.2 billion from Sh24 billion in 2015.

According to the data, Base titanium, the largest mining firm in Kenya accounted for 57 percent of Kenya’s mineral output in the period under review contributing mineral sands that include Ilmenite, Rutile, and Zircon worth Sh13.2 billion.

The Value of traditional commodities that includes Soda Ash, Fluorspar, Salt, Carbon Dioxide, Diatomite, Gold, and Gemstones, was at Sh10 billion in 2016 a slight decline from Sh11 billion in 2015.

Overall, Rutile is the best performing mineral with the value mined at Sh6.8 billion followed by Soda Ash at Sh6.7 billion.

Soda Ash value has however been going down since 2014 where it was at Sh8.4 billion, while in 2015 the value was at Sh7 billion.

Diatomite value has stagnated at Sh71 million for the last three years while fluorspar’s value has been decreasing by about Sh400 million for the last three years.

 

 

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