Morocco Adopts Legislation to Attract Investment in Mining

Rabat – Morocco’s Government Council approved on Thursday, May 28 a draft decree that aims to improve the performance of the mining sector and attract national and foreign investment. The Moroccan Minister of Energy and Mining, Aziz Rabbah presented to the council Draft Decree No. 2.18.442, which falls within the framework for the restructuring of […] The post Morocco Adopts Legislation to Attract Investment in Mining appeared first on Morocco World News.

Morocco Adopts Legislation to Attract Investment in Mining
Rabat – Morocco’s Government Council approved on Thursday, May 28 a draft decree that aims to improve the performance of the mining sector and attract national and foreign investment. The Moroccan Minister of Energy and Mining, Aziz Rabbah presented to the council Draft Decree No. 2.18.442, which falls within the framework for the restructuring of artisanal mining activity, said the ministry in a press release on May 30. The draft mainly aims to establish judicial mechanisms to enhance the attractiveness of national and foreign investments in the mining sector in the region of Tafilalet and Figuig, eastern Morocco. The mining region is known for being rich in minerals such as Zinc, Baryte, Manganese, Iron, Copper, and Fluorite. The decree also relates to the modalities of the region’s division into zones, as well as setting up mechanisms for managing relations between companies and artisanal miners in order to preserve their rights. It also aims to define the terms of the allocation and the extension of research permits and licenses. The decree also outlines the procedures for appointing representatives of artisanal miners to the Board of Directors of the Central Purchasing Development Office in the Tafilalet and Figuig mining region. The artisanal mining activity, based on the wealth of minerals of the region, is an important source of income for a large part of the region’s population. During a presentation in April 2019, Rabbah said that mineral investment in Morocco amounted to MAD 14 billion ($1.4 billion), and that Morocco has a strategy to develop the sector by 2025. The strategy comes with the aim of developing investment in mineral exploration with a budget of MAD 4 billion ($416 million), as well as creating 30,000 jobs. Rabbah added that studies and exploration are time-consuming, “and we cannot expect immediate profit.” The post Morocco Adopts Legislation to Attract Investment in Mining appeared first on Morocco World News.