DILI, 13 march 2024 (TATOLI) – The Council of Ministers approved two draft decree-law of the Ministry of Petroleum and Mineral Resources (MPRM) on the classification and marketing of strategic minerals and TIMOR GAP’s participation interests in Production Sharing Contracts.
The draft Decree-Law was presented by the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro.
This decree-law classifies minerals as strategic and establishes the rules for state participation in exercising the respective mining rights and their commercialization.
“These minerals are classified as strategic based on economic criteria, energy security and balance of trade, danger, rarity, defense and security, and/or support for the growth of domestic manufacturing industries, especially in the agricultural, housing, and infrastructure sectors, in addition to the list of special rules applicable to the state’s participation in the exercise of the respective mining rights and the commercialization of strategic minerals, under the terms of the Mining Code.
Journalist: Jose Belarmino de Sa
Editor: Filomeno Martins
