Industry "MPs" agree to amend the law on mineral wealth
The Industry Committee of the House of Representatives approved during its meeting today under the chairmanship of MP Fawzi Vatti a bill submitted by the government to amend some provisions of the Mineral Wealth Law and the law issued by the number 198 for the year 2014.
The draft stipulates the commitment of the government to the implementation of the Constitution in Article 32, which states that the natural resources of the State belong to the people and is committed to maintain and good use and take into account the rights of future generations.
The draft law aims to establish clear controls for exploiting Egypt's mineral wealth from quarries, mines and navigators to allow the optimal exploitation of this natural resource, while ensuring that it achieves the greatest possible return for national income, which is available only in a disciplined legislative framework that is transparent and takes into consideration the interests of all parties.
The amendments stipulate that the materials of the project shall apply to mineral exploration licenses and exploitation agreements promulgated by law, in a manner that does not contradict the provisions of these agreements, in accordance with the rules governing this vital field of exploitation of the natural resources of the State.
The draft law gave the Egyptian General Authority for Mineral Wealth and the competent authorities the right to negotiate with the licensees in respect of the application of rental values and royalties on the license of research and exploitation in order to achieve their fair value.
The project gave the Egyptian General Authority for Mineral Resources and the competent authority the right to take the procedures of issuing licenses of mines and navigators, research and exploitation with the requirement to adopt this procedure from the Minister concerned with mineral wealth, the governor or the head of the new urban communities according to the geographic scope in which the exploitation area.
The law allowed the establishment of areas for research and mining exploitation by a decision of the Board of Directors of the Authority and after the approval of the competent authority that this proposal be a special regulation that includes all the conditions necessary for contracting and designation and how to choose between the applications submitted with the need to take the view of the Ministry of Defense on the requirements of the defense of States.
The amendments provided that licenses for the research and exploitation of mining materials are issued by a decision of the competent minister after the approval of the Board of Directors of the Authority.
The draft law authorizes the competent authority to grant the exploitation license for mines, quarries, salts of more than sixteen square kilometers, and mineral mines with a separate law.
The law prohibits the assignment of exploitation license to third parties who do not meet the conditions stipulated by law
The law includes deterrent penalties for those who extract raw materials without a license or drive a vehicle carrying materials from unlicensed quarries with the knowledge thereof
It is forbidden to issue licenses for exploitation in agricultural lands until after the approval of the Minister of Agriculture and the imprisonment of those who violate
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