[Original] Kenya: Cement Prices Rise Due to Mining Tax Rise

2014-01-17 14:21:38

Cement manufacturers in Kenya are raising their prices in response to the increase in the mining tax imposed by the Ministry of Mines. On 18 December 2013, Najib Balala, Cabinet Secretary of the Ministry of Mines, Kenya, announced that the mining tax levied on the cement industry would be adjusted to Kshs 140/t.

Cement manufacturers in Kenya are raising their prices in response to the increase in the mining tax imposed by the Ministry of Mines.

On 18 December 2013, Najib Balala, Cabinet Secretary of the Ministry of Mines, Kenya, announced that the mining tax levied on the cement industry would be adjusted to Kshs 140/t.

However, most cement manufacturers are dissatisfied with the decision of the Ministry of Mines, and they even think that the tax is "unfair" and "illegal".

It is reported that on October 1, 2013, Kenya's National Cement Company (National Cement) lowered its cement prices, and now, affected by new tax regulations. Kenya's National Cement raised the ex-factory price of its 50 kg bagged cement to KES 625 from KES 600 on October 1, 2013; Bamburi Cement also said it had raised the ex-factory price of its cement; However, ARM said it has not yet adjusted its cement prices, but it is already analyzing its cost structure.

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Correlation

[Original] Kenya: Cement Prices Rise Due to Mining Tax Rise

2014-01-17 14:21:38

CEMPI

105.52

+0.16 +0.15%

CONCPI

91.68

0.00 0.00%

CLKPI

111.40

+0.52 +0.47%

SPPI

45.16

+0.15 +0.33%

MORPI

74.84

0.00 0.00%

Hubo Cement Interviewed for Environmental Issues

On September 30, the Bureau of Ecology and Environment of Anyang City, Henan Province, held an interview, mainly aiming at the prominent environmental problems of Hubo Cement Group Co., Ltd. (Hereinafter referred to as Hubo Cement), such as illegal use of licensed diesel trucks for transportation, inadequate control of unorganized emissions, and slow progress of ultra-low emissions, requiring the principal responsible persons of Hubo Cement to recognize the grim situation and raise their ideological awareness. Carry out reform, thoroughly investigate and reform, eliminate the use of illegal diesel trucks, implement ultra-low emission transformation with high standards, ensure that the proportion of clean transportation reaches more than 80%, and complete the publicity of ultra-low emission assessment and monitoring by the end of the year. Hou Zhijun, Secretary of the Party Group and Director of the Bureau, presided over the meeting.