{"id":621450,"date":"2018-11-08T04:04:50","date_gmt":"2018-11-08T04:04:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/egypt-cabinet-approves-amendments-to-mineral-resources-act\/"},"modified":"2018-11-08T04:04:50","modified_gmt":"2018-11-08T04:04:50","slug":"egypt-cabinet-approves-amendments-to-mineral-resources-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/egypt-cabinet-approves-amendments-to-mineral-resources-act\/","title":{"rendered":"Egypt Cabinet approves amendments to Mineral Resources Act"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>CABINET WATCH- Madbouly Cabinet approves amendments to Mineral Resources Act: <\/strong>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 href=\"http:\/\/www.cabinet.gov.eg\/Arabic\/MediaCenter\/CabinetNews\/Pages\/Cabinet-meeting-No-17.aspx\">a statement from the Madbouly Cabinet<\/a>. While the statement includes no details on the amendments, previous reports indicate that the reforms will see Egypt scrap its oil-and-gas-style production sharing agreement and move to a tax, rent and royalty model \u2014 and eliminate the requirement that miners enter into 50:50 JVs with the sector\u2019s regulator. The bill is also expected to allow exploration companies to acquire exploration ground without first obtaining exploration licenses. Oil Minister Tarek El Molla <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/28\/new-and-friendlier-mineral-resources-act-to-be-introduced-to-egypts-house-of-representatives-in-three-months\/\">had said last month<\/a> that the amendments to the act would be presented to the House of Representatives in three months.<\/p>\n<p><strong>Stakeholders to be consulted on the amendments: <\/strong>Prime Minister Moustafa Madbouly ordered a survey of local officials whose governorates are home to potential mining activity. Business associations such as the Federation of Egyptian Industries and the Federation of Egyptian Chambers of Commerce will also be included in the public consultations.<\/p>\n<p><strong>Industry approves: <\/strong>The amendments have received the overwhelming support of the industry, with top execs at Aton Resources, Thani Stratex Resources and Resolute Egypt <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/31\/forthcoming-amendments-mineral-resources-act-extremely-encouraging-atons-mark-campbell\/\">signing an exclusive op-ed for Enterprise<\/a> praising the reforms.<\/p>\n<p><strong>All buildings will soon be paying waste management fees:<\/strong> All municipalities are to enforce a monthly fee for all buildings and businesses that would go towards garbage collection and waste management. The cabinet also mandated that 25% of real estate taxes collected from a governorate would go towards waste management.<\/p>\n<p>Other decisions around the cabinet table yesterday:<\/p>\n<ul>\n<li>Approving a USD 64.6 mn grant from the US to fund water infrastructure development;<\/li>\n<li>Approving a c. USD 330,000 grant from the Arab Fund for Economic and Social Development;<\/li>\n<li>Approving a dual taxation agreement with Kazakhstan.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>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 the amendments, previous reports indicate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,7111,180,1350,3688,373,2380,452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621450","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-infrastructure","tag-legislation","tag-madbouly-cabinet","tag-mineral-resources-act","tag-mining","tag-speed-round","tag-waste-management","wpautop","entry"],"acf":{"mongo_id":"eee29a23-f802-43eb-bda5-483be39346ab","order":"0","is_powered_by":true,"section_story_id":"0f969aef-b5d6-4980-ad4b-d29020bd194b","story_type":"1","photo_url":"","photo_position":"above","related_issue":[621440],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt Cabinet approves amendments to Mineral Resources Act - 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\/2018\/11\/08\/egypt-cabinet-approves-amendments-to-mineral-resources-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt Cabinet approves amendments to Mineral Resources Act\" \/>\n<meta property=\"og:description\" content=\"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 the amendments, previous reports indicate [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/egypt-cabinet-approves-amendments-to-mineral-resources-act\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-08T04:04:50+00:00\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/egypt-cabinet-approves-amendments-to-mineral-resources-act\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/egypt-cabinet-approves-amendments-to-mineral-resources-act\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt Cabinet approves amendments to Mineral Resources Act\",\"datePublished\":\"2018-11-08T04:04:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/egypt-cabinet-approves-amendments-to-mineral-resources-act\/\"},\"wordCount\":316,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"infrastructure\",\"legislation\",\"Madbouly Cabinet\",\"Mineral Resources Act\",\"mining\",\"SPEED ROUND\",\"waste management\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/egypt-cabinet-approves-amendments-to-mineral-resources-act\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/egypt-cabinet-approves-amendments-to-mineral-resources-act\/\",\"name\":\"Egypt Cabinet approves amendments to Mineral Resources Act - 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Aton believes the effect that these changes will have on investment\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":591703,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/15\/mineral-resources-act-exec-regs-should-come-out-this-month\/","url_meta":{"origin":621450,"position":1},"title":"Mineral Resources Act exec regs should come out this month","author":"enterpriseam admin","date":"15 December 2019","format":false,"excerpt":"REGULATION WATCH- Mineral Resources Act exec regs should come out this month: The executive regulations of the Mineral Resources Act should be making their way to cabinet for approval before the end of this month, an unnamed source from the Egyptian Mineral Resources General Authority tells Al Shorouk. The Council\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":601699,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/madbouly-cabinet-approves-amendments-to-the-investment-act\/","url_meta":{"origin":621450,"position":2},"title":"Madbouly Cabinet approves amendments to the Investment Act","author":"enterpriseam admin","date":"7 March 2019","format":false,"excerpt":"CABINET WATCH- Madbouly Cabinet approves amendments to the Investment Act: The Madbouly Cabinet approved on Wednesday amendments to the Investment Act that expand the application of the law. Under amendments to Article 12, any expansion to an already existing investment project is eligible for the incentives granted under the law,\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":567251,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/madbouly-issues-executive-regulations-for-amended-mineral-resources-act\/","url_meta":{"origin":621450,"position":3},"title":"Madbouly issues executive regulations for amended Mineral Resources Act","author":"enterpriseam admin","date":"16 January 2020","format":false,"excerpt":"LEGISLATION WATCH- Mineral Resources exec regs issued: Prime Minister Moustafa Madbouly has issued the executive regulations for the amended Mineral Resources Act, cabinet said in a statement. The regs confirm that the changes cap royalty payments at 20% of the value of annual production, and introduce a minimum of 5%.\u2026","rel":"","context":"In &quot;Speed Round&quot;","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\/620.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625361,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/02\/cabinet-signs-off-on-egp-2-5-bn-strategy-to-develop-egypts-education-infrastructure\/","url_meta":{"origin":621450,"position":4},"title":"Cabinet signs off on EGP 2.5 bn strategy to develop Egypt\u2019s education infrastructure","author":"enterpriseam admin","date":"2 August 2018","format":false,"excerpt":"CABINET WATCH- The Madbouly Cabinet signed off yesterday on a EGP 2.5 bn plan to develop the country\u2019s education infrastructure, according to a statement. The plan will build some 2,500 new schools across Egypt as part of the government\u2019s plans to overhaul the education sector. No further details were provided\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":598037,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/egypts-cabinet-greenlights-mineral-resources-act-amendments\/","url_meta":{"origin":621450,"position":5},"title":"Egypt\u2019s cabinet greenlights Mineral Resources Act amendments","author":"enterpriseam admin","date":"13 May 2019","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=621450"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621450\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/621440"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=621450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=621450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=621450"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=621450"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=621450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}