More excellent progress from Madagascar on the mining code. Should be a great week next week. We now have money in the bank a growing resource and regulatory certainty.
Passing of the mining control bill in the upper house of parliament, Anosikely, May 19, 2023 Bill No. 005/2023 dated April 12, 2023, which amends the Mining Law or the "mining code".Five articles of law were amended by the Madagascar Senators at that time.
Among the amendments made is in article 31 concerning the authorization of mining resources which has changed as follows: the authorization of mining resources can be obtained, either by through the decision of the Minister of Mines according to the recommendations of the central committee led by the District Chief in the mining area, or from the Gold Center in Madagascar, depending on the situation. And the members of this core committee are appointed according to the decision of the Minister of Mines.
It has also been amended regarding the method of distribution of the revenue obtained from mining royalty, in the third paragraph of article 290, as follows:
10 percent for the "National Equalization Fund"
90 percent for the People's Community-decentralized region, which is distributed as follows:
60 percent for the municipalities affected by the project and the municipalities affected by the project;
30 percent for the Region;
10 percent for the Province
There is also the introduction of new article 431 bis in chapter VII which is also new in title XVIII which states that pending the establishment of the Provinces, the decree adopted by the Council of Ministers is determine the distribution of the share of revenue from the mining royalty allocated to the Provinces.
The Minister of Natural Resources and Strategic Resources said that the improvements brought by the Madagascar Senators in this bill are very important. He said that it can be seen that the Senate has prioritized the study and improvement proposed in it and that this Institution has done a great job to reach this expense. He assured himself that he will make every effort to speed up the implementation of this bill, as requested by the Madagascar Senators.
The President of the Senate, Mr. Herimanana RAZAFIMAHEFA said that the implementation of this bill gives hope to the country because the decentralized communities will be able to enjoy many results when this law is applied, such as the establishment of work etc...
The meeting was under the leadership of the President of the Senate, attended by the members of the Permanent Board and the Elders of Madagascar.
https://www.facebook.com/mmrs.madagascar/[using google translate]
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