Royalties: Vaaldiam Mining earns millions in royalties from mines years after exiting

Base titanium ore (PHOTO BY MAARUFU MOHAMED/STANDARD)

NAIROBI, KENYA: Canadian firm, Vaaldiam Mining Inc, earned a tidy Sh310 million during the year to June 2017 from the Kwale mineral sands project operated by Australian miner —Base Resources.

While Vaaldiam might be unknown to many Kenyans, its predecessor Tiomin Resources is familiar to many and particularly to coastal residents.