Amendments to Mineral Resources Act sent to Parliament
The government sent the draft amendments to the Mineral Resources Act to the Parliament for review, Petroleum Minister Tarek El Molla said. El Molla reiterated that the amendments were made primarily to draw investments in the flagging mining sector. He noted that the Ministry will begin immediately to implement the reforms laid out by consultancy Wood Mackenzie as soon as the Parliament passes the amendments. Wood Mackenzie had been contracted by an affiliate of the Petroleum Ministry to lay out an appropriate development strategy for the sector. El Molla expects the law’s executive regulations to be issued within six months of the bill passing in the House of Representatives and being signed into law by the President.
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