Another 43 mining companies to have licences revoked

TIRANA, Oct. 5 – The Economy Ministry says it has initiated procedures to revoke the licences of another dozens of inactive mining companies. The Ministry says that 43 companies are licensed by the the National Agency for Natural Resources but do not fulfil legal obligations on the mining sector. Controls have shown he companies have not operating and have not submitted their annual programme for 2011 and previous years. Last September, the ministry started procedures to revoke the licences of another 55 companies on the same grounds. New changes to the mining law foresees permits for this sector– which produces one of Albania’s key exports– will be issued under offers made by the Economy and Energy Ministry and not companies themselves. Data show some 770 mining permits are currently in force of which 150 are for exploration purposes. The new 2011-2014 strategy on the mining sector foresees a 5 percent increase in production. Since 1994, when a new mining law was approved soon after the communist system collapsed, Albanian mines have been explored by private companies under mining permits and concessions. Under the new law, the local government units will benefit 20 percent of the mining rent. Another element the draft law brings is the financial guarantee for companies which want to get a mining permit.