Decisive Directives from the Ministry of Finance to Regulate Mining Companies’ Performance
The Minister of Finance and Economic Planning, Dr. Gibril Ibrahim, issued firm directives to enforce the laws governing the relationship between the government and companies operating in the mining sector, including concession companies and those working in mining residues. He also called for activating the mechanism to collect overdue government fees before the end of the year.
During a meeting on Monday with the Minister of Minerals, the Undersecretary of the Ministry of Finance, its legal advisor, and general directors at the Ministry of Minerals headquarters, he stressed that any rescheduling or deferral of financing installments for companies must be approved by the Ministry of Finance. He reaffirmed the government’s commitment to regulating the sector and reviewing its governing laws and regulations.
Minister Nour Al-Daim Taha affirmed close coordination with the Ministry of Finance at all levels to reach a unified vision for improving the mining sector’s performance and ensuring the public interest.
A comprehensive report was presented on the sector’s performance, its challenges, and proposed solutions.
The Undersecretary of the Ministry of Finance, Abdullah Ibrahim, emphasized the need to review government debts owed by companies through the Auditor General, in addition to reviewing concession agreements, work contracts, granted exemptions, and company performance. He stressed the importance of enforcing financial and accounting controls from exploration through to production stages.
It was agreed to form a joint committee between the two ministries to monitor performance across all stages.
