According to todays Daily Nation newspaper a kshs 5 Trillion ($62.4 billion) niobium mineral (a rare mineral) deposits have been discovered in Mrima Hills in Kwale County...

Now, according to the government and Cortec Kenya Mining (the mining company) agreements, the revenue from the mining and sales of these rare deposits will be shared between the National Government, the County Government and the mining company... so far so good...

According to the agreement, the government will receive 3% royalties from the project and 5% from the mining activities, meaning the government will earn kshs 400 billion out of the kshs 5 trillion...if I am right, this is a blood sucking scenario!!!NKT!!!^*$#*#**!!!!!!!!

Further, our good constitution says that the resource shall be divided as follows...80% (kshs 320 billion) will go to the National government, 15% (kshs 60 billion) will go to the county government and 5% (kshs 20 billion) will go to the local community...

When I look at the a resource worth kshs 5 trillion and we will only receive 8% of the total resource value ain't this thuggery or slavery defined in modern terms or rape of our natural resources????

Only the KRA and may be the CBK fellows will be happy to collect the proceeds that will help in closing the widening gaps in their collection targets!!Correct me if i am wrong please...

Nothing to celebrate here!!!

Reportedly, GoK will also have a 10% free-carry shareholding on behalf of the people of Kenya. Sovereign Wealth Fund (SWF)

Quite true, but then don't forget this:

1. machinery capital cost

2. beneficiation costs

3. staff salaries

4. further explorations

Items 1,2 and 4 presents some delicious loopholes which can easily be exploited by the mining company to astronomically inflate the cost of liabilities...

These loopholes may be very difficult to seal...exempli gratia, the company might wish to extract the ore here (in Kenya), but the beneficiation is done elsewhere (abroad)...this is where we lose badly!!! A good example of our product is coffee and tea. How much does our farmer get compared to how much the end product costs???

The declared profit may end up being so small...a fraction of the value of the find...

Nothing to be happy about here, ati 10%...Botswana have been thoroughly screwed by De Beers (Openhemier and company) through Debswana where the GOB owns I think 10-15% shareholding...GOB knows very little of what is happening in Orapa, Letlakane and Jwaneng diamond mines...Marketing has always been done by De Beers and I think the GOB knows very little on how much the resource is fetching in the international market...The Botswana government have been crying all along on the near zero return on their diamonds...

I expect almost the same situation here...