Kenya has made a valuable find, a very uncommon and desirable mineral known as “Coltan”.
Mining Minister Salim Mvurya made it official after years of speculation that Kenya has pockets of the mineral. Over 70% of the world’s supply comes from The Democratic Republic of Congo, which has sadly fueled years of discord. Rwanda also supplies a fair amount.
Coltan is essential for many things produced today including electric car batteries, cellular devices, and much more, often refined into metallic tantalum. Trading prices heavily depend on how much tantalum coltan contains.
The discovery happened in six different counties. Mining accounts for 1% of Kenya’s total GDP, however, according to officials it could be up to 10%. Kenyan officials also claimed the finding could lead to more jobs. Currently, the value of all deposits found is a mystery.