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Flourspar earnings drop to Sh869m after plant closure
An earthmover scoops raw material for crushing at the stock pile section, at Kenya Fluorspar Company Limited, in Elgeyo-Marakwet County. photo | Jared Nyataya
What you need to know:
- The Kenya Fluorspar Company (KFC) closed shop in February last year citing falling commodity prices saw it post losses for three consecutive years.
- The closure of the factory depressed local production and left about 600 people unemployed.
- 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.
Earnings from fluorspar plunged by 39 per cent last year to Sh868.8 million following the closure of an Eldoret-based mining factory, official data indicates.
The Kenya Fluorspar Company (KFC) closed shop in February last year citing falling commodity prices saw it post losses for three consecutive years. The closure of the factory depressed local production and left about 600 people unemployed.
