{"id":621849,"date":"2018-11-19T04:05:37","date_gmt":"2018-11-19T04:05:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/19\/mineral-resources-act-sent-to-house-for-review\/"},"modified":"2018-11-19T04:05:37","modified_gmt":"2018-11-19T04:05:37","slug":"mineral-resources-act-sent-to-house-for-review","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/19\/mineral-resources-act-sent-to-house-for-review\/","title":{"rendered":"Mineral Resources Act sent to House for review"},"content":{"rendered":"

<\/a> LEGISLATION WATCH- Amendments to Mineral Resources Act sent to House: <\/strong>The government has sent long-awaited draft amendments to the Mineral Resources Act to the House of Representatives for review, Oil Minister Tarek El Molla said<\/a>. El Molla reiterated that the amendments were made primarily to draw investments in the flagging mining sector, which holds world-class potential, but is hobbled by an outdated economic framework better suited to the oil and gas industry. El Molla noted that the ministry will begin immediately implementing the reforms laid out by consultancy Wood Mackenzie as soon as the House passes the amendments. Wood Mackenzie had been contracted by an affiliate of the Oil Ministry to lay out an appropriate development strategy for the sector.<\/p>\n

El Molla expects the law\u2019s executive regulations will be issued within six months<\/strong> of the bill passing in the House of Representatives and being signed into law by President Abdel Fattah El Sisi.<\/p>\n

Background: <\/strong>While few details of the bill have been revealed, we expect it will see Egypt scrap its oil-and-gas-style production sharing agreement and move to a tax, rent and royalty model, eliminating the requirement that miners enter into 50:50 JVs with the sector\u2019s regulator. It\u2019s also expected to allow exploration companies to acquire exploration ground without first obtaining exploration licenses. The amendments, which aim to attract significant foreign interest in the nation\u2019s mining sector, have been praised<\/a> by industry leaders.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- Amendments to Mineral Resources Act sent to House: The government has sent long-awaited draft amendments to the Mineral Resources Act to the House of Representatives for review, Oil Minister Tarek El Molla said. El Molla reiterated that the amendments were made primarily to draw investments in the flagging mining sector, which holds world-class […]<\/p>\n","protected":false},"author":1,"featured_media":621850,"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":[72,274,180,3688,373,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-house-of-representatives","tag-legislation","tag-mineral-resources-act","tag-mining","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"adbcb4ea-f2b0-4e03-8abe-8a3b44ea1886","order":"0","is_powered_by":true,"section_story_id":"0b5b580d-85a2-4606-bd9f-f821b1e359bc","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/627.jpg","photo_position":"above","related_issue":[621837],"teaser":"","voice_url":""},"yoast_head":"\nMineral Resources Act sent to House for review - 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\/19\/mineral-resources-act-sent-to-house-for-review\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mineral Resources Act sent to House for review\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- Amendments to Mineral Resources Act sent to House: The government has sent long-awaited draft amendments to the Mineral Resources Act to the House of Representatives for review, Oil Minister Tarek El Molla said. El Molla reiterated that the amendments were made primarily to draw investments in the flagging mining sector, which holds world-class […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/19\/mineral-resources-act-sent-to-house-for-review\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-19T04:05:37+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\/2018\/11\/19\/mineral-resources-act-sent-to-house-for-review\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/19\/mineral-resources-act-sent-to-house-for-review\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Mineral Resources Act sent to House for review\",\"datePublished\":\"2018-11-19T04:05:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/19\/mineral-resources-act-sent-to-house-for-review\/\"},\"wordCount\":244,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/19\/mineral-resources-act-sent-to-house-for-review\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/627.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"House of Representatives\",\"legislation\",\"Mineral Resources Act\",\"mining\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/19\/mineral-resources-act-sent-to-house-for-review\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/19\/mineral-resources-act-sent-to-house-for-review\/\",\"name\":\"Mineral Resources Act sent to House for review - 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Speaking at\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":622221,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/wood-mackenzie-says-four-challenges-are-facing-egypts-mining-sector\/","url_meta":{"origin":621849,"position":2},"title":"Wood Mackenzie says four challenges are facing Egypt\u2019s mining sector","author":"enterpriseam admin","date":"29 November 2018","format":false,"excerpt":"Wood Mackenzie says four challenges are facing Egypt\u2019s mining sector: Egypt\u2019s mining sector faces four challenges, according to Ricardo Monte Alto, head of Metals and Mining Americas at Wood Mackenzie, which was hired to lay out a development strategy for Egypt\u2019s mining sector. These include oil and gas-style production sharing\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":623318,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/28\/new-and-friendlier-mineral-resources-act-to-be-introduced-to-egypts-house-of-representatives-in-three-months\/","url_meta":{"origin":621849,"position":3},"title":"New and \u201cfriendlier\u201d Mineral Resources Act to be introduced to Egypt\u2019s House of Representatives in three months","author":"enterpriseam admin","date":"28 October 2018","format":false,"excerpt":"** #4 LEGISLATION WATCH- New and \u201cfriendlier\u201d Mineral Resources Act to be introduced to the House in three months: The Madbouly cabinet will present amendments to the Mineral Resources Act to the House of Representatives within three months to make the industry more attractive to investors, Oil Minister Tarek El\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":621849,"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":647530,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/14\/emras-gold-exploration-tender-results-within-a-week-minister-tarek-el-molla\/","url_meta":{"origin":621849,"position":5},"title":"EMRA\u2019s gold exploration tender results within a week -Minister Tarek El Molla","author":"enterpriseam admin","date":"14 May 2017","format":false,"excerpt":"Tarek El Molla on gold exploration, de-regulation of the natural gas industry and the coming swing in priorities toward oil: Petroleum and Mineral Resources Minister Tarek El Molla spoke at an AmCham luncheon we attended on Thursday. 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