Shanta Gold Uncovers $5.28 Billion Underground Gold Deposits in Western Kenya
$5.28 Billion Gold Reserves Discovered in Western Kenya’s Lirhanda Corridor, Boosting Mining Investment
A British mining company, Shanta Gold Kenya Limited, announced on Wednesday the discovery of extensive underground gold deposits in Kakamega County, western Kenya, estimated to be worth more than $5.28 billion (Sh683 billion). Officials have described the find as a historic milestone for Kenya’s mineral sector.
The discovery was made in the Lirhanda Corridor, a 1,200-kilometer mineral belt spanning Kakamega and Vihiga counties, following years of intensive exploration and drilling.
“The project aims to secure the necessary authorization to mine the Isulu-Bushiangala gold resources for economic purposes,” the company said in a statement.
Shanta Gold highlighted the potential economic benefits, including job creation, business opportunities, and significant contributions to the Kenyan government through taxes, royalties, and revenue, which could drive local and regional economic growth.
The newly discovered reserves are expected to position Kenya as a major player in East Africa’s gold industry, which has traditionally been dominated by Tanzania and Sudan.
Shanta Gold confirmed that the deposits include high-grade ore suitable for commercial mining, and feasibility studies for underground extraction are already underway.
The company plans to invest $208 million (Sh26.86 billion) to develop the mine and processing plant, potentially establishing the Lirhanda project as Kenya’s first large-scale underground gold operation.
Mining and mineral processing engineer Brian Mwangi Njoroge, founder of a startup supporting artisanal miners in Migori, described the discovery as a turning point for the country’s mining industry.
“This discovery confirms what many have long suspected—that western Kenya holds world-class gold potential,” Njoroge said. “With the right infrastructure and regulations, Kenya could transition from exploration to full-scale production faster than expected. The British mined in this region during colonial times; there has always been gold here.”
Shanta Gold, listed on London’s Alternative Investment Market (AIM), acquired its western Kenya assets from Barrick Gold in 2020 and has since conducted extensive drilling across multiple sites.
The discovery comes amid sustained global demand for gold, with prices near record highs due to economic uncertainty. Analysts suggest that this timing could make Kenya’s gold sector an attractive alternative for investors seeking new production hubs outside traditional markets.
