Cabinet approves draft regulations on Law of mines
The Source: SANA'A/hadhramaut.info/sabanews.net - 03/05/2011
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The Cabinet, chaired by Caretaker Prime Minister Ali Mujawar, approved on Tuesday a draft regulations on the Law of Mines and quarries.
The Cabinet issued its directives for the completion of legal procedures to issue the regulations.
The draft regulations, submitted by Ministry of Oil and Minerals, consists of 87 articles divided into six chapters including naming, definitions, licensing, general and joint provisions, registration, fees and concluding provisions.The new regulations of mines and quarries reflects the best international practices that meet demands of local and foreign investors alike with the mining legislation in neighboring countries.It aims mainly to confirm transparency, efficiency and regular responsibility and to reach a balanced approach between the government's supervision and investor's rights. In addition, the draft regulations also includes provisions on health, safety and environment protections that should be adhered by investors so as to maintain these aspects.
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