Tiomin frustrated by delays

Canadian-based Tiomin Resources is blaming Kenyan bureaucracy for the latest delays in the implementation of the Kwale ilmenite/rutile/zircon mineral sands project. Tiomin has stated that a deal with China’s Jinchuan Group Ltd to invest USD 25 million in a Kenyan titanium project is on hold because of unreasonable bureaucratic delays. Jinchuan is still carrying out due diligence and so the agreement unveiled in a Memorandum of Understanding (MOU) on 29 July did not go ahead as planned on 1 November. Jinchuan has noted that the Kenyan government had not completed the remaining bureaucratic steps needed for the transaction to be completed. The project has been repeatedly held up by delays including demonstrations by environmental groups, disputes with local farmers over compensation for land and drawn out talks with the government. If the closing continues to be delayed, Tiomin will consider terminating the MOU on the grounds of unreasonable delay.
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