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Balala revokes 31 mining licences

Monday August 5 2013

Mining Cabinet Secretary Najib Balala has revoked 31 mining licences issued between January and May 2013, saying they were issued under unclear circumstances.

Mining Cabinet Secretary Najib Balala has revoked 31 mining licences issued between January and May 2013, saying they were issued under unclear circumstances. 

Mining Cabinet Secretary Najib Balala has revoked 31 mining licences issued between January and May 2013, saying they were issued under unclear circumstances.

At the same time, the government has formed a taskforce to look into issuance of licences to mining companies, that will scrutinize among other things, the companies' capacity to undertake mining activities and generate tax revenue.

Mr Balala said out of 500 mining licenses issued within that period, only 20 were held by credible companies, while others were held by “briefcase’ companies that are in the business of speculating and hoarding of the mineral resource.