Arab Finance: President Abdel Fattah El-Sisi approved a law on transforming the Egyptian Mineral Resources Authority (EMRA) into the Mineral Resources and Mining Industries Authority, as per an official statement.

The new law stipulates that the new entity will replace EMRA as an independent structure, in a move aimed at localizing mining industries, boosting transparency, and attracting investment.

This decision comes as part of the state's efforts, along with all its institutions, to achieve a real breakthrough in the mining sector and maximize the added value of mineral resources.

Moreover, the amendments include regulating the issuance of operating licenses for rock and ore analysis laboratories, implementing a cashless payment system for collecting fees.

This is in addition to imposing fines for operating without a license, and creating an investment-friendly environment through advanced regulatory and financial mechanisms that allow the authority to achieve financial sustainability.

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