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SPEECH BY HON.

NAJIB BALALA,EGH, CABINET SECRETARY, MINISTRY OF MINING, DURING THE FOCUS ON MINING UNDERSTANDING PROJECT DYNAMICS SEMINAR AT SERENA HOTEL, NAIROBI ON 29TH JULY, 2013.

Invited Guests, Ladies and Gentlemen, It gives me pleasure to be here today to listen to the Industry gurus and share with you the progress made in the Mining Industry from a Government perspective. As you all may be aware, H. E. the President created the Ministry of Mining in May this year after realizing the immense potential in this industry. Since its inception, several steps have been made in relation to Mining. Firstly, the Ministry has fast tracked the preparation of a new mining code to replace the old and archaic law under which the sector has operated over the years. I am pleased to inform you that he bill is now ready to be tabled before Cabinet for approval. The bill will, among other things, streamline the industry in terms of licensing, Government involvement in mining and collection and remittance of royalties and taxes. Ladies and gentlemen, The Mining Industry in this country is rich and ripe. The new Government is open for business and one of the most promising sectors of our economy is mining. I am very happy that today, we are gathered here to get a better understanding of among other things how the private sector can actively and positively engage with Government in this sector. This is also one of the issues that the new bill proposes and encourages. Ladies and gentlemen,

In the past, the private players in this industry have viewed government as an adversary. I am here today to reverse that notion and assure the investors that Government is here to assist you do better. However, the private investors must also allow Government to take charge of its own affairs:- regulate the industry, collect taxes and royalties on behalf of the people of Kenya and ensure equity, fairness and accountability in issuance of licenses, be it exploration, prospecting or mining. This is the only way that this country can benefit from the God given resources. As I conclude ladies and gentlemen, I wish to once again reiterate the governments commitment to fairness, in all areas relating to Mining. I also wish to inform you all that we are now operating an open door policy where transparency is paramount. I welcome you all for dialogue, discussion and advice from the experienced industry players at all times. My Ministry welcomes any positive suggestions on how to move the industry forward and assure you that we are in this together. God Bless you All.