Australian mining firm Base Titanium will auction its mining equipment — including industrial pumps, transformers, power modules, and control systems — after winding up its 11-year extractive operations in Kwale.
- •The two-day sale, hosted by South African-based, WH Auctioneers, will open today and will feature over 300 lots of high-value assets that have been used for less than a decade in the Kwale plants.
- •The auction was initially restricted to international buyers but the “Export Only” conditions have been dropped allowing local buyers to bid for the equipment.
- •Base Titanium exported five million tonnes of titanium during its reign as Kenya’s biggest operation, but will now pivot to prospecting after the depletion of the mineral reserves.
The mining firm had initially explained that its decision to restrict the auction to international buyers was due to the fact that the assets had been imported tax-free under investment agreements with the government. This would have rendered local sales uneconomical as the new owners would have to pay duties such as customs, VAT, and excise taxes.
Bidders are required to place a US$2,500 refundable deposit and a 12% buyer’s premium applies. Bids for the auction items, available for viewing by appointment at the Kwale site, opened at modest prices but some of the units are set to cost US$7,500.
According to the Kenya National Bureau of Statistics (KNBS), the value of Titanium production in the country slumped to KSh 16.97 billion in 2024 from KSh 24.22 billion in 2023. At its height, Base Titanium employed over 1,000 locals, participated in crucial CSR activities, and furnished the state with plump taxes and royalties.
In April last year, Base Titanium’s parent company was acquired by a US minerals firm, Energy Fuels, in a KSh 31.8 billion deal priced at KSh 25 per shareholder.