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The Mining Law PDF Print E-mail
Friday, 10 June 2011
Article Index
The Mining Law
Page 2

    Proclamation No. 165/2011

 

A Proclamation to Amend the Mining Law Proclamation No. 68/1995

Article 1:  Short title

This proclamation may be cited as “Mining Law Proclamation No.68/1995 Amendment Proclamation No. 165/2011.

Article 2:  State Participation

Article 41 of the Mining Law Proclamation No.68/1995 is hereby amended as follows:

Without prejudice to the provision of Article 7 of the Mining Law   Proclamation No.68/1995, the Government may acquire, without cost to it self, a participation interest of up to 10 percent of any mining investment. The  Government is also entitled to equity participation not  exceeding a total of 40 percent, including the 10 percent  mentioned hereinabove,  the percentage, timing ,financing ,resulting  rights and obligations and other  details of which  shall be specified by agreement.

Article 3 Effective date

This Proclamation shall enter in to force as of the date of its publication in the Gazette of Eritrean Laws.

 

                                        Done at Asmara this 16th day of May, 2011

                                                                    Government of Eritrea

 


Last Updated ( Saturday, 11 June 2011 )
 
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