By JAMES KARIUKIMore by this AuthorGlobal mining firms are demanding Sh334 billion from the government as compensation for cancelling their licences. Trade Principal Secretary Chris Kiptoo said Kenya is actively involved in the cases and that all agreements with global firms are under review. “There are ongoing cases at ICSID with claims amounting to Sh334bn. INVESTOne of the disputes involves a Sh200 billion claim by Cortec Kenya and a Sh61.8 billion claim by WalAm Energy Inc. CONTRACT BREACHThe government said Cortec’s 21-year licence was unprocedurally issued and was against regulations banning the exploration of minerals in a gazetted forest.

Source: Daily Nation February 07, 2018 17:15 UTC