{"id":24574,"date":"2021-03-21T21:48:06","date_gmt":"2021-03-21T21:48:06","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=24574"},"modified":"2021-03-21T21:48:06","modified_gmt":"2021-03-21T21:48:06","slug":"mps-move-to-ban-export-of-local-iron-ore","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/mps-move-to-ban-export-of-local-iron-ore","title":{"rendered":"MPs move to ban export of local iron ore"},"content":{"rendered":"

AfricaPress-Kenya:<\/strong> The export of iron ore could be banned if Parliament approves a proposed law that will include the mineral in the list of goods that cannot be exported.<\/p>\n

The Excise Duty (Amendment) Bill, 2021 seeks to include iron ore on the list of goods that are\u00a0\u201cprohibited and restricted exports.\u201d<\/p>\n

This is as Kenya seeks to protect local firms that rely on the ore for the production processes from competing with export markets for the lucrative mineral.<\/p>\n

The Bill also wants to\u00a0match the local laws\u00a0with those of other East African Community (EAC) partner states that have already banned the exportation of iron ore.<\/p>\n

\u201cThe principal object of the Bill is to amend the Excise Duty Act to align the Act with the EAC Customs Management Act, 2004 and the policy decisions of the other partner states to ban export of iron ore,\u201d read the Bill in part<\/p>\n

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Iron ore is a key ingredient in steel-making and its pricing, which has been subjected to supply shocks over the last decade, had exposed the local construction industry to volatile prices.<\/p>\n

While Kenya has confirmed deposits of iron ore, there has been no meaningful exploitation of the mineral.<\/p>\n

This means the country is\u00a0not cushioned from pricing shocks in the international markets.<\/p>\n

\u201cIn line with President Uhuru Kenyatta\u2019s Big Four Agenda which includes manufacturing, I propose a Bill seeking to ban the export of iron ore mined in Kenya. The mineral is required in Kenya for manufacturing to enhance job creation,\u201d said Lugari Constituency MP Ayub Savula, who will be sponsoring the Bill in a letter to the speaker of the National Assembly.<\/p>\n

\u201cOther East African countries including Uganda and Tanzania have banned the export of this mineral to improve manufacturing in their countries.\u201d<\/p>\n

While Kenyan mines are yet to emerge as great producers of iron ore, iron and steel are one of the largest exports of the county.<\/p>\n

In addition to the locally mined iron ore, also available are recycled metals that are exported either in form of scrap or at times in a more refined form.<\/p>\n

There are also re-exports whereby importers from neighbouring countries use Kenya as an import route.<\/p>\n

According to the\u00a0Kenya National Bureau of Statistics (KNBS), the export value of iron and steel increased to stand at Sh15.7 billion in 2019.<\/p>\n

\u201cHorticulture, tea, articles of apparel and clothing accessories, coffee and iron and steel, remained the leading export earners, collectively accounting for 59 percent of the total value of domestic exports,\u201d said KNBS in the Economic Survey 2020.<\/p>\n

Iron and steel were also listed as some of the largest imports into the country.<\/p>\n

According to the KNBS data, it is the third-largest import after petroleum products and industrial machines in 2019. During the year, iron and steel imports were valued at Sh104 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: The export of iron ore could be banned if Parliament approves a proposed law that will include the mineral in the list of goods that cannot be exported. The Excise Duty (Amendment) Bill, 2021 seeks to include iron ore on the list of goods that are\u00a0\u201cprohibited and restricted exports.\u201d This is as Kenya seeks […]<\/p>\n","protected":false},"author":84,"featured_media":24570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[7938,4463,7939],"class_list":["post-24574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-eac-customs-management","tag-excise-duty","tag-iron-ore"],"yoast_head":"\nMPs move to ban export of local iron ore - kenya<\/title>\n<meta name=\"description\" content=\"The export of iron ore could be banned if Parliament approves a proposed law that will include the mineral in the list of goods that\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/mps-move-to-ban-export-of-local-iron-ore\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MPs move to ban export of local iron ore\" \/>\n<meta property=\"og:description\" content=\"The export of iron ore could be banned if Parliament approves a proposed law that will include the mineral in the list of goods that\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/mps-move-to-ban-export-of-local-iron-ore\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-21T21:48:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/03\/mps_move_to_ban_expo605772489e7df.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"850\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/mps-move-to-ban-export-of-local-iron-ore#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/mps-move-to-ban-export-of-local-iron-ore\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"MPs move to ban export of local iron ore\",\"datePublished\":\"2021-03-21T21:48:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/mps-move-to-ban-export-of-local-iron-ore\"},\"wordCount\":473,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/mps-move-to-ban-export-of-local-iron-ore#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/03\/mps_move_to_ban_expo605772489e7df.jpg\",\"keywords\":[\"EAC Customs Management\",\"Excise duty\",\"Iron ore\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/mps-move-to-ban-export-of-local-iron-ore#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/mps-move-to-ban-export-of-local-iron-ore\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/mps-move-to-ban-export-of-local-iron-ore\",\"name\":\"MPs move to ban export of local iron ore - 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