Most interesting to me was the process of convincing strategic investors to fund the project. Mining being a capital intensive business, the company first set out to convince local fund managers. Interestingly, local investors were not willing to invest in mining. It remained a foreign trade to them. Talk of missed opportunities. The project is therefore funded by foreign investors including banks that gave credit facilities.
The second most fascinating thing was on the project's community approach. Recalling that last week i shared my brief thoughts on Responsible Business, the company gave me new insights on, community mutual-benefit and partnership. Tim was very candid that without the support of the local community mining projects can be disastrous. The company has incorporated various community aspects to the project including having a data base for all skilled and semi-skilled workers from the neighbouring community.
Tim also shared that the by-products of the mining process especially clay can be used by entrepreneurs in income-generating ventures (better than making traditional pots). The company's investment in infrastructure will also go along way to benefit the community both during and after the project. The company's balance between business interests and community interests in commendable.
I hope to visit Kwale to experience the progress being made in the mining sector and hope to have a few investors on my train.
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