The Petroleum and Mining ministry has partly blamed the widespread smuggling of precious stones for the decades-long decline in the industry. The mining sector last year contributed a paltry 0.8 per cent of the gross domestic product, a drop from 2.5 per cent in 2014. Why do people smuggle, for instance, gold to Tanzania or Uganda while the price is the same? (Photo by Caleb Kingwara, Standard)There are only two major mining companies operating today, reflecting the industry’s decline. “We are looking at reviewing the Mining Act, the policies and regulations,” he said.

Source: Standard Digital May 02, 2021 07:30 UTC