Back to the complete issue
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.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2020 Enterprise Ventures LLC.