mining industry – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Thu, 20 May 2021 12:31:09 +0000 en-US hourly 1 Mining industry/ Balluku: Reducing financial investment guarantee of exploration permits to 10% https://en.ata.gov.al/2021/05/20/mining-industry-balluku-reducing-financial-investment-guarantee-of-exploration-permits-to-10/ https://en.ata.gov.al/2021/05/20/mining-industry-balluku-reducing-financial-investment-guarantee-of-exploration-permits-to-10/#respond Thu, 20 May 2021 12:31:09 +0000 http://en.ata.gov.al/?p=147544 TIRANA, May 20/ATA/- The Albania’s Minister of Infrastructure and Energy, Belinda Balluku said today that, the Rama Government permanent focus is the improvement of legal procedures and the reduction of bureaucratic barriers in order to facilitate the activity of commercial entities operating in the country.

According to Balluku, based on the problems identified in time in the mining industry, which plays an important role in the Albanian economy, amendments to the law regulating this sector was deemed necessary.

Taking the floor in the plenary session of the Assembly, during the discussion of the draft law “On some amendments and additions to the law” “On the mining sector in the Republic of Albania “as amended”, Minister Balluku said that, the proposed changes include the reduction of the financial guarantee of the investment that the licensed companies deposit for the exploration permits, from 100% of the value of the investment foreseen in the minimum work program to the value of 10% of it.

This eases the financial burden on these entities, Minister Balluku said while adding that, they often face lack of liquidity and enables higher realization rates of planned investments.//a.i/

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