Egypt's House of Representatives has approved a draft law authorising the Minister of Petroleum and Mineral Resources to sign a new contract with the Egyptian Mineral Resources Authority (EMRA) and SAE Mining Central Centamin for the exploitation of gold and associated minerals in the Sukari sector of the Eastern Desert. The decision comes as part of the state's broader strategy to enhance investment in the mining sector and develop Egypt's natural resources. According to a joint report from the Industry Committee and the Bureau of the Constitutional and Legislative Affairs Committee, the agreement complies with the Constitution and legal standards, maintains a fair balance between state and investor interests, and ensures adherence to environmental and technical regulations. The new agreement is aligned with the Ministry of Petroleum and Mineral Resources' strategy to modernise the legal framework for mineral exploitation. It aims to maximise national economic returns through a system of free equity participation, royalties, and taxation. The government expects this framework to attract significant foreign direct investment (FDI), generate new employment opportunities, and strengthen the mining sector's contribution to GDP. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
