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{
    "id": 479776,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/479776/?format=api",
    "text_counter": 181,
    "type": "speech",
    "speaker_name": "Hon. Moi",
    "speaker_title": "",
    "speaker": {
        "id": 2689,
        "legal_name": "Kipruto Moi",
        "slug": "kipruto-moi"
    },
    "content": "Thank you very much, hon. Speaker for giving me this opportunity. The Geothermal Development Corporation is very busy extracting power from Rongai Constituency in Nakuru County. A regulated mining sector is good for this country, because it will avoid the pitfalls of other mineral-rich countries; it should not bring environmental conflict and social decay. Therefore, because of the replacement of the previous Mining Act of 1940 with the current Mining Bill of 2014--- We believe enacting this Bill will attract investors into this country, who will then process these minerals, add value and trade in them. Kenyans will benefit in the sense that it will become the centre, or the capital, of mineral trade in the East African region. Hon. Speaker, delays in passing this Bill will cause problems that will not attract investors. The good part of this Bill is that it incorporates the international best practices on such issues as loyalties and the engagement of communities; it will benefit the current and also future generations. Hon. Speaker, local equity participation is critical to this country; previously mining companies would enter a region and simply look for minerals to exploit without allowing local participation. Ultimately, the losers were the local people; that happened in Taita Taveta and even Baringo. Therefore, we need mandatory local participation. The sharing ratio should not be 75 per cent to the national Government, 20 per cent to the county and 5 per cent to the local community. I believe it should be the national Government 70 per cent stake, the county government 20 per cent and the local community 10 per cent. Hon. Speaker, it is said that all the minerals under oceans, rivers, lakes sand land, belong to the people of Kenyan and is held in trust for them by the national Government. In spite of that, if we allow things to go that way, and the local people do not participate or are not turned into investors--- We must become investors as well as owners of the land. Instead of calling for investors from Mauritius, Singapore, Europe or USA, WE must be able to first ask – can the community become AN investor, and hold big equity stake in operations? With these few remarks, I would like to support this Bill, with amendments. Thank you"
}