The Prime Minister, Moustafa Madbouly, issued new decisions related to the executive regulations of the Mineral Resources Law, according to a statement by the Cabinet.
The regulation’s provisions will be applied for search and exploitation licenses of ore mines, quarries, and navigation issued by the authority and the proceeds of their rents and royalty fees will be transferred to the state treasury.
The regulations stipulates that the competent agencies should prepare a request form for search licenses to be submitted and approved by the authority.
According to the executive regulations of the Mineral Resources Law, the authority must prepare certified records stamped with serial numbers and their types, in addition to creating databases for raw materials and companies.
Only completed applications are accepted once all the required data and documents are ready.
The regulation gives the authority the right to establish or contribute in exploration and production (E&P) activities with a share from Public Fund of not less than 25%, except for the agreements issued by law.
According to the regulation, a consultant committee will be formed and headed by the Ministry of Petroleum and Mineral Resources’ representative with membership from several other ministries and agencies.
The regulation stated that the Ministry of Defense is responsible for E&P activities in the lands within its jurisdiction, where they coordinate with the authority in the existing works.
The second chapter of the executive regulations of the Mineral Resources Law was devoted for mines.
The regulation referred to the procedures for mining exploitation and what is related to the steps taken by the licensee to search and exploit for the quarries and the followed procedures to obtain exploitation license.
Also, the list contained a chapter related to insurance and licenses for monitoring and inspecting the work of each of the mines, quarries and navigators.