The new Mining Regulation was published in the Official Gazette no. 32040 dated 11 December 2022 repealing the former Mining Regulation dated 21 September 2017.
The new Regulation adapted certain provisions for the purposes of harmonisation with the amendments in the Mining Law no. 3213, which have taken place since the effective date of the former Regulation.
One of the significant novelties introduced with the new Regulation is making share transfers resulting in more than 10% change in the shareholding structure of a mining royalty company subject to the prior approval of the General Directorate of Mining and Petroleum Affairs (GDMPA), whereas a notification to the GDMPA was deemed sufficient under the former Regulation.
Furthermore, it is clarified in the new Regulation that mergers, demergers and contribution of the mining licences as capital-in-kind shall be considered as “licence transfer”, and thus, the minimum licence and transfer fees shall be payable to obtain the GDMPA approval.
The new Regulation also sets out new provisions regarding the employment and duties of permanent supervisors.
Please do not hesitate to contact us for any further information on the amendments on the new Mining Regulation.
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