Kenya hits largest gold find worth US$5.29bn which could rewire East African mining map
An environmental impact assessment conducted by British miner Shanta Gold has confirmed one of Kenya’s largest gold discoveries in decades, valuing the Isulu-Bushiangala deposit in Kakamega County at about US$5.29 billion.
Shanta’s Kenyan subsidiary reported 1.27 million ounces of contained gold at an average grade of 11.43 g/t, based on work compiled in the West Kenya Feasibility Study: Isulu-Bushiangala Underground Mining Project, the Star Kenya reports.
The plan envisions a large‑scale underground mine roughly 55 km northwest of Kisumu, with ore processed through a 1,500‑tonnes‑per‑day plant powered by a 12‑megawatt station, and tailings stored on site.
Capital costs are estimated at US$170 - 208 million (Sh22 - 27 billion), with annual operating costs of about US$19 million. The company projects royalties of US$4.3 - 4.7 million (Sh560 - 610 million) a year for the state, plus US$1.5 million (Sh195 million) via the Mineral Development Levy. Under Kenya’s Community Development Agreement rules, 1% of the value of gold produced would be shared directly with host communities. Initial mine life is eight years, with potential extension subject to further drilling.
“Our focus is to develop a world‑class underground operation that meets global safety and sustainability standards,” said Jiten Divecha, general manager of Shanta Gold Kenya Ltd, who signed the EIA.
The company proposes Long Hole Open Stoping (LHOS), a mechanised method designed to minimise surface disturbance. Mined-out voids would be backfilled with cemented aggregate to reduce the risk of subsidence, the EIA states. Key infrastructure includes a tailings storage facility, waste rock dumps and administrative buildings.
The project would require about 337 acres, mainly private land, potentially displacing around 800 households. Shanta has identified six resettlement sites totalling 1,932 acres, offering cash compensation or relocation within the region.
This story is written and edited by the Global South World team, you can contact us here.
