Egypt issues new mining law regulations

Egypt issues new mining law regulations

CAIRO: Egypt issued new regulations that appear to eliminate the need for mining companies to form joint ventures with the Egyptian government and to limit state royalties to a maximum 20%, measures long advocated by the private sector.. The cabinet released a summary of the executive regulations to the mining law after its weekly meeting on Wednesday.. The cabinet statement indicated that although the Egyptian Mineral Resources Authority had the right to form joint ventures with a minimum state ownership of 25%, private mining companies would not necessarily have to do this if their mining agreements were ratified by law.. Morocco begins talks to curb trade deficit with Turkey /node/1613681/business-economy. Turkey had agreed in talks on Wednesday to review their free trade deal. The Moroccan minister told parliament earlier this week that the free trade accord should be scrapped if no deal to amend it is reached.. Members of parliament have complained to Elalamy about what they describe as "unfair competition practices" by some Turkish food and ready-to-wear retailers whose products are sold in Morocco under the free trade deal..