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Economic Committee hosts CEO of PAM to discuss draft law of Mineral Wealth

 The Economic Committee of the State Council discussed on Wednesday at its ninth meeting, the draft law of Mineral Wealth, referred by the Council of Ministers along with the report from  Majlis A’Shura.
 
The Committee meeting chaired by Hon.  Sheikh Mohammed Abdullah Hamed Al Harthi, and held in the presence of the honorable members of the Committee, hosted H.E Hilal bin Mohammed Busaidi, CEO of Public Authority for Mining (PAM), to discuss the draft Law.
The draft law aims  to provide more attractive investment in the mining sector, and to increase the time limit for the validity of licenses mining, facilitating and expediting procedures for obtaining mining approvals, providing promising mining areas and offering them to compete on the basis of equal opportunities in an environment of openness and transparency, increased penalties for mining offences and broader powers for inspectors and judicial seizure, the obligation to contribute to community development as well as the protection of the environment surrounding mining operations.