Kenya Bans Unprocessed Mineral Exports, Eyes Local Refining Boom

Kenya has announced a ban on exporting unprocessed minerals, requiring all extraction to be refined locally before it can be sold through government-approved channels. The policy aims to capture more value from Kenya's underground wealth rather than watching it leave the country in raw form.

The Central Bank of Kenya will serve as the primary buyer of domestically refined gold, giving the state first priority in the purchase program. This is part of a larger effort to formalize what has been a largely unregulated market and ensure fair pricing with greater transparency.

Kenya currently produces roughly 300 kg of gold per month, with annual unregulated transactions in the gold sector estimated at 36 billion shillings. The government hopes that by processing minerals locally, it can reduce lost revenue and increase its returns from mineral wealth.