Hypothetically speaking, lets assume there is a significant oil field, say worth $3billion annually, how is it likely to affect the economy?

I saw another story on gold that says that GoK would earn 4% of the value of each export consignment in the form of royalties, in addition to corporate tax that is tied to the profits.

Is that good enough?

Kenya to award first gold mining license next week

[quote=hisah]Hmmm... How did I miss this article.

http://www.nation.co.ke/.../-/60twclz/-/index.html[/quote]
Can County Govt.s now leverage on this as comparative advantages?

I have never figured out what this post is all about (unable to open the links). Where is this 71b barrels?

The Isiolo upgrade. Why Isiolo

http://www.nation.co.ke/...56/1300682/-/15k4r5fz/-/

Preparations for black gold.

Some of the comments:

Submitted by nic6
Best to leave the buried wealth underground because every intelligent person knows it will not benefit the average Kenyan. Just a matter of time before the corrupt brigade sell it all for a pittance to the Chinese. Look at Nigeria's oil, it's done nothing for the average Nigerian.

Posted January 04, 2012 08:07 PM

Submitted by Treaty
Just copy and paste this on books and journals and let school children learn and be examined on it. I learnt in 1980s that kenya has Fluospar, limestone, soda ash etc but today is 2012 we are learning the same. For what help!!!!!!!

Posted January 04, 2012 08:33 PM

Submitted by LELEITTO
There is copper near Kericho town around Brooke.Long time ago Kipsigis blacksmiths used to mine copper (Marabaek) right until the White colonists discouraged them.It is very interesting that no one has found it necessary to mine the mineral yet when one visits the place the minerals are right visible.This much in RV in terms of minerals.

Posted January 04, 2012 11:00 PM

Submitted by Zanka2011
I find this very interesting,we import all our glass wear from china who intially import soda ash from kenya to make it.What if we make the glasswear since we have the soda ash then export it to china,billions would be flowing in !!!!!!!

Posted January 05, 2012 12:45 AM

Submitted by knjoroge2007
It is a high time our universities start teaching mining and petroleum engineering courses.

Posted January 05, 2012 01:37 AM

Submitted by olegaita66
Since we have survived without mineral wealth we too can do with a policy that stipulates that these minerals should not be exported raw.Investors who do extract them must use them to manufacture right here in the republic of Kenya.Value added goods is the way to go,anything less is shooting ourselves on the feet.But given the myopic leadership we got,what do you expect?

Posted January 05, 2012 02:33 AM

Submitted by rofi
The Chinese are exporting iron ore from Kenya. This is how to remain poor forever.

Posted January 05, 2012 07:24 AM

The head wind I see here is possible cultural back lash. But aside from that...this is mega development finance & energy - lazima tunone pia

and the clearest clue of all ... KDF's bold move into Somalia isn't about the kidnapping of a few tourists. its about stabilizing the entire region for you know what ...

I really pray that the next leadership we have severely restrict export of some of these minerals in raw form. Force or give incentives for value addition locally with skills transfer as part of the deal and BOT -Build Operate Transfer - of the necessary infrastructure in the mix too. Otherwise all we'll get are crumbs on the floor.

Bought at $1.28 now trading $1.72. Cheers Hisah