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Sunday, 11 November 2018

Aton praises cabinet approval of Mineral Resources Act amendments

Proposed amendments to Mineral Resources Act get praise from industry: Canada’s Aton Resources has praised the Madbouly government’s approval of long-awaited amendments to the Mineral Resources Act that could be passed by year’s end, it said in a statement. Aton believes the effect that these changes will have on investment in exploration and mining will be significant: “The scrapping of the [production sharing agreement], for a transparent tax, rent and royalty system, along with getting rid of the requirement for a 50:50 joint venture with EMRA, should be of great interest to exploration companies all around the world,” said Aton President and CEO Mark Campbell. The Madbouly cabinet announced the decision on Wednesday, without providing details on the amendments.

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