Cabinet approves new excavations, forms committee to review mining regulations

Gov’t also meets with JIC over efforts to stimulate foreign, local investment

By JT - Jul 02,2019 - Last updated at Jul 02,2019

The Cabinet convenes for its weekly meeting on Monday. During the meeting, members decided to approve new excavations and licences for the Jordan Phosphate Mining Company (Petra photo)

AMMAN — The Cabinet on Monday approved new excavation and mining rights licences for the Jordan Phosphate Mining Company (JPMC).

Under the new decision, the Energy and Minerals Regulatory Commission (EMRC) will provide new mining licences to the company, given its commitment to any new requirements and conditions set by the government, the Jordan News Agency, Petra, reported.

The decision also mandates the formation of a committee to review the outcomes of the phosphate mining by-law of 2013, and any new restrictions on raw phosphate investment, in addition to raising the value of phosphate.

The aforementioned panel will be led by the director of the EMRC, and will include representatives from the Ministry of Energy and Mineral Resources, the Ministry of Finance and the Ministry of Industry, Trade and Supply.

The committee is required to submit its report to the Cabinet within three months of its formation to inform the JPMC of any new fees and requirements.

Also on Monday, the Cabinet heard a presentation from acting chairman and Secretary General of the Jordan Investment Commission (JIC) Faridon Hartouqa on updates of JIC operations.

The presentation also addressed the commission’s plans for performance development, which aims to attract local and foreign investment and spur economic momentum.

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