Back to the complete issue
Monday, 3 June 2019

Mineral Resources Act gets committee-level approval at Egypt’s House

LEGISLATION WATCH- Mineral Resources Act gets committee-level approval at House: Committees at the House of Representatives have given a preliminary nod of approval to the bill that would create a new Mineral Resources Act, according to reports in the domestic press. The long-awaited changes were approved by the Madbouly Cabinet last month. The amendments are still pending a final general assembly vote before being signed into law by President Abdel Fattah El Sisi.

Background: If passed, the amendments would set up a new authority in charge of licensing mines and quarries. They would also lift a previous 16k sqm area limit, allowing the authority to issue licenses to areas of unlimited size and allow licenses to be renewed for more than one term. Mines and quarries licensed under the current legislation would remain valid and be subject to prior terms until renewal. The amendments have been praised by the industry for their promise to scrap the oil-and-gas-style production sharing agreement.

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. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.