Kenya: Any potential financial recovery of ARM Cement could be threatened by the loss of its mining licences. Local legislation lists insolvency as a condition that could trigger suspension or revocation of a mining licence, according to the Business Daily newspaper. The cement producer was placed into administration by UBA Bank in mid-August 2018, with PricewaterhouseCoopers staff appointed as administrators. PWC’s Muniu Thoithi said that the company was approaching the government on the issue.
ARM Cement recovery threatened by loss of mining licences
URL: https://globalcement.com/news/item/7985-arm-cement-recovery-threatened-by-loss-of-mining-licences
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