Tata Chemicals and Kenyan government form Magadi soda ash committee
Tata Chemicals and the Kenyan government are teaming up with a new joint committee to tackle regulatory problems around Tata's Magadi soda ash plant.
The group, led by Kenya's Principal Secretary for Mining and TCML's CEO, was announced after a key meeting on September 8, aiming to find solutions after recent tensions.
Kenya suspended Magadi operations late July
Kenya had suspended operations at the Magadi facility in late July, saying it wasn't bringing enough economic benefit. President Ruto even talked about bringing in new operators.
Now, this committee will look into those concerns and suggest ways for more sustainable mining and better community impact.
Tata says it handed over all compliance documents last August and is committed to open talks.
After news of the committee broke, Tata Chemicals's shares dipped slightly to ₹604.70 on Wednesday at 10:33.