Flourspar earnings drop to Sh869m after plant closure - News Summed Up

Flourspar earnings drop to Sh869m after plant closure


The Kenya Fluorspar Company (KFC) closed shop in February last year citing falling commodity prices saw it post losses for three consecutive years. Poor performance in fluorspar production and sales dampened Kenya’s overall earnings from the mining sector to Sh23.3 billion from Sh23.8 billion in 2015. The British firm Goldplat begun mining in Kenya in 2012 but had to soon restrict production citing a dim outlook and stringent regulations. Soda ash continued on its downward trend as earnings fell to Sh6.2 billion from Sh6.6 billion. Soda ash export took a hit in Kenya in 2014 after Tata Chemicals scaled down production citing high-energy costs.


Source: Daily Nation April 20, 2017 19:07 UTC



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