{"id":598037,"date":"2019-05-13T03:54:17","date_gmt":"2019-05-13T03:54:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/egypts-cabinet-greenlights-mineral-resources-act-amendments\/"},"modified":"2019-05-13T03:54:17","modified_gmt":"2019-05-13T03:54:17","slug":"egypts-cabinet-greenlights-mineral-resources-act-amendments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/egypts-cabinet-greenlights-mineral-resources-act-amendments\/","title":{"rendered":"Egypt\u2019s cabinet greenlights Mineral Resources Act amendments"},"content":{"rendered":"

<\/a> LEGISLATION WATCH- Cabinet greenlights amendments to Mineral Resources Act:<\/b> The Madbouly Cabinet has approved amendments to the Mineral Resources Act and will send the draft bill to the House of Representatives today, a source from the Oil Ministry told the local press<\/a>. The proposed amendments will have to make it through House committee-level approval and be put up for a final vote before being signed into law by President Abdel Fattah El Sisi.<\/p>\n

The changes<\/b> will set up a new authority in charge of licensing mines and quarries<\/b>, the source said, adding that the previous 16k sqm area limit would be lifted, allowing the authority to issue licenses to areas of unlimited size. The legislation would, if passed, allow licenses to be renewed for more than one term, while licenses would be revoked after six consecutive months of inactivity (rather than three). Mines and quarries licensed under the current legislation would remain valid and be subject to prior terms until renewal, the source noted. Among other clauses, the law would also include provisions to encourage the development of value-added industries that take advantage of the country\u2019s mineral wealth.<\/p>\n

We thought this package had already made it to the House: <\/b>We noted late last year<\/a> that the amendments \u2014 which have been praised by the industry<\/a> for their promise to scrap the oil-and-gas-style production sharing agreement and move to a tax, rent and royalty model \u2014 had been sent to the House after receiving cabinet approval<\/a>. Reading the coffee grinds, it seems a ministerial working group subsequently made changes after consultations with the Federation of Egyptian Industries and provincial governors.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- Cabinet greenlights amendments to Mineral Resources Act: The Madbouly Cabinet has approved amendments to the Mineral Resources Act and will send the draft bill to the House of Representatives today, a source from the Oil Ministry told the local press. The proposed amendments will have to make it through House committee-level approval and […]<\/p>\n","protected":false},"author":1,"featured_media":598038,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,180,131,373,343,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-legislation","tag-manufacturing","tag-mining","tag-regulation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"7b9537d0-11ad-4bf9-a754-9dc096cfc6b9","is_powered_by":true,"section_story_id":"5966814b-de66-43c9-84d5-b09dbb8228c6","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/627.jpg","photo_position":"above","related_issue":[598029],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s cabinet greenlights Mineral Resources Act amendments - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/egypts-cabinet-greenlights-mineral-resources-act-amendments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s cabinet greenlights Mineral Resources Act amendments\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- Cabinet greenlights amendments to Mineral Resources Act: The Madbouly Cabinet has approved amendments to the Mineral Resources Act and will send the draft bill to the House of Representatives today, a source from the Oil Ministry told the local press. The proposed amendments will have to make it through House committee-level approval and […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/egypts-cabinet-greenlights-mineral-resources-act-amendments\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-13T03:54:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/627.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/egypts-cabinet-greenlights-mineral-resources-act-amendments\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/egypts-cabinet-greenlights-mineral-resources-act-amendments\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s cabinet greenlights Mineral Resources Act amendments\",\"datePublished\":\"2019-05-13T03:54:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/egypts-cabinet-greenlights-mineral-resources-act-amendments\/\"},\"wordCount\":276,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/egypts-cabinet-greenlights-mineral-resources-act-amendments\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/627.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"legislation\",\"Manufacturing\",\"mining\",\"regulation\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/egypts-cabinet-greenlights-mineral-resources-act-amendments\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/egypts-cabinet-greenlights-mineral-resources-act-amendments\/\",\"name\":\"Egypt\u2019s cabinet greenlights Mineral Resources Act amendments - 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The long-awaited changes were approved by the Madbouly Cabinet\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598878,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/mineral-resources-act-amendments-set-for-parliamentary-approval-before-summer-recess\/","url_meta":{"origin":598037,"position":1},"title":"Mineral Resources Act amendments set for parliamentary approval before summer recess","author":"enterpriseam admin","date":"11 June 2019","format":false,"excerpt":"LEGISLATION WATCH- Mineral Resources Act amendments expected to receive House sign-off before the summer recess: The House of Representatives is expected to give its final approval on the amendments to the Mineral Resources Act before it goes on recess in July, an Oil Ministry source told Al Shorouk on Monday.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/627.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593243,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/exec-regs-for-mineral-resources-act-coming-this-month\/","url_meta":{"origin":598037,"position":2},"title":"Exec regs for Mineral Resources Act coming this month","author":"enterpriseam admin","date":"21 November 2019","format":false,"excerpt":"REGULATION WATCH- Exec regs for Mineral Resources Act coming this month: The Council of State (Maglis El Dawla) should complete its review of the draft executive regulations for the Mineral Resources Act \u201cwithin days\u201d before referring it to cabinet for approval, a government source told Al Mal. 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The Council\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621450,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/egypt-cabinet-approves-amendments-to-mineral-resources-act\/","url_meta":{"origin":598037,"position":4},"title":"Egypt Cabinet approves amendments to Mineral Resources Act","author":"enterpriseam admin","date":"8 November 2018","format":false,"excerpt":"CABINET WATCH- Madbouly Cabinet approves amendments to Mineral Resources Act: The Madbouly Cabinet approved on Wednesday long-awaited amendments to the Mineral Resources Act that aim to attract significant foreign interest in the nation\u2019s mining sector, according to a statement from the Madbouly Cabinet. While the statement includes no details on\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598148,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/15\/federation-of-egyptian-chambers-of-commerce-requests-changes-to-mineral-resources-act-amendments\/","url_meta":{"origin":598037,"position":5},"title":"Federation of Egyptian Chambers of Commerce requests changes to Mineral Resources Act amendments","author":"enterpriseam admin","date":"15 May 2019","format":false,"excerpt":"The Federation of the Egyptian Chambers of Commerce\u2019s quarries division presented to the House Industry Committee its requests for changes to make to the proposed amendments to the Mineral Resources Act yesterday, division head Ibrahim Ghaly tells the local press. 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