Nairobi, Sept. 22 -- Kenya plans to increase royalty rates for miners who sell minerals like gold in raw state and more than halve the fees for firms which process the ore before export in a policy move geared at creating jobs locally.
The proposed changes seek to reward firms which add value on minerals before shipping them out of the country, unlike the current mineral royalties' regime where miners pay a flat rate on the gross value of sales.
The Petroleum and Mining ministry has proposed to increase royalty payments for gold in raw or crushed form to seven percent of the value from current flat rate of five percent, while the rates for processed and semi-processed ores have been slashed to two and three percent, respectively.
The rev...