Jordan approves 30-year copper mining concession: Report
The deal grants mining rights over a 25-sq-km area, with the extracted raw materials to be processed locally to maximise national economic returns, the Jordan Times reported, citing an official statement.
The move aims to halt the export of unprocessed copper.
Plans entail setting up a public shareholding company, with a portion to be floated on the local stock exchange, the report said, without providing further details.
The government revenues from the project will be linked to international copper prices, the newspaper said.
In March, Jordan offered several mining sites to investors in its Southern Aqaba areas.
The country has set an ambitious target to expand the mining sector's contribution to GDP to nearly JOD 2.1 billion ($2.9 billion) in 2033 from around JOD 700 million ($980 million) in 2024, according to a report by the Energy and Mineral Resources Ministry.
(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
9 minutes ago
- Arabian Business
UAE announces new mortgage procedures
The UAE has announced new mortgage plans to slash bureaucracy and support real estate efficiency. In a move toward seamless government services in the UAE, the Ministry of Energy and Infrastructure (MoEI) held its inaugural Customer Council meeting to overhaul the mortgage release procedure following loan repayment. The initiative—part of the Ministry's Smart Government agenda—brings together federal and local authorities, the Emirates Development Bank, and end-users to pinpoint bottlenecks and co-design a streamlined process. UAE mortgage procedures Council participants identified key hurdles that traditionally burdened homebuyers: Multiple required visits to various entities Inconsistent document checklists across emirates Lack of digital integration, prolonging case closures Under the new model, piloting in Ajman before nationwide rollout, all direct debit cancellations will be automatically processed by Emirates Development Bank as soon as a loan is cleared. Physical trips to collect loan guarantees are eliminated in participating emirates, and digital connectivity between MoEI, Emirates Development Bank, and Ajman's Department of Land and Real Estate Regulation ensures instant notifications once transactions finalise. These combined enhancements shrink the service timeline from several days to just one working day from repayment. In concrete terms, customers will no longer need the previous six documents nor make the five visits once deemed unavoidable—achieving a 100 percent reduction in procedural steps. Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, said: 'The Customer Council meeting aligns with the UAE Government's vision of building flexible and smart government services that place the customer at the heart of improvement and development. 'It reflects our commitment to involving customers in decision-making and enhancing transparency. The proposed solutions today are based on actual needs that have been identified and analysed within the framework of the Government Accelerators. 'We believe that achieving zero bureaucracy can only be realised through digital integration, streamlined procedures, and the elimination of unnecessary requirements—goals we have already begun to achieve through this initiative. 'The Ministry will continue working with its strategic partners to translate the outcomes of this council into concrete, actionable improvements that enhance customer satisfaction and elevate the UAE's global rankings in government service efficiency.' Echoing this, Mohammed Bin Taliah, Chief of Government Services of the UAE Government, noted that the mortgage release service after loan repayment represents a significant leap in the level of integration between federal and local entities. Omar bin Omair Al Muhairi, Director-General of the Department of Land and Real Estate Regulation in Ajman, stated that participation in the first customer council on mortgage release procedures comes as part of the strategic partnership with MoEI and in continuation of joint efforts to shape the future of the real estate sector and enhance the efficiency of government work through proactive service packages that keep pace with rapid development.
Arabian Business
9 minutes ago
- Arabian Business
Saudi Ministry of Hajj and Umrah announces fines and suspensions
Saudi Arabia's Ministry of Hajj and Umrah has launched legal action against several Umrah operators after uncovering significant shortcomings in the accommodation services provided to pilgrims—services that fell short of the standards agreed upon in their approved programs. Action taken includes legal procedures against the violating companies. Penalties included the suspension of operations for four Umrah companies and financial fines on others, depending on the severity and recurrence of the violations. Saudi fines Umrah accommodation violators The ministry stressed its commitment to ensuring Umrah performers receive their full rights and services are delivered per the highest standards of quality and professionalism, reiterating that any negligence or breach of contractual obligations will not be tolerated. The ministry also urged all Umrah companies and establishments to strictly adhere to the approved regulations and instructions and provide services according to the specified timelines, contributing to enhanced service quality and ensuring the satisfaction and comfort of Umrah performers and visitors during their stay in the Kingdom.
Arabian Business
9 minutes ago
- Arabian Business
flydubai partners with emaratech to launch new smart gates
flydubai has partnered with emaratech, a technology organisation in the UAE, to implement smart border control solutions. The new smart gates will be accessed by the Dubai-based carrier's pilots and cabin crew as part of its commitment to innovation and investing in technologies. 'We are pleased to have partnered with emaratech to implement this innovative solution for our pilots and cabin crew. We always look for opportunities to harness the latest technologies that support our growth and operational efficiencies and with the introduction of these biometric smart gates, this marks another step towards fostering a more seamless, punctual and secure operation as we future-proof our systems,' Mohammed Hareb AlMheiri, Chief Procurement & Technology Officer at flydubai said. AI-powered immigration for flydubai crew The smart gates are located at the carrier's Airport Operations Centre and use biometric technology, AI-driven verification and real-time data integration to streamline immigration processes. The system provides a faster and more efficient immigration experience for flight operations, supporting the carrier's operational efficiency during busy travel periods. 'We are proud to partner with flydubai in pioneering a next-generation, paperless immigration experience for their crew members. Through the integration of AI-powered facial recognition technology, our smart gates seamlessly connect with both flydubai's and immigration's platforms, enabling real-time validation and a truly frictionless journey,' Thani Alzaffin, Group Chief Executive Officer of emaratech said. 'This initiative reflects emaratech's continued commitment to redefining border control processes—making them smarter, faster, and more secure. By harnessing the power of artificial intelligence, we are shaping a future where innovation drives convenience and trust at every checkpoint. We look forward to deepening our collaboration with flydubai across future initiatives that further enhance the travel experience for both passengers and crew,' he added. The carrier continues to invest in technologies that improve the daily experience of its frontline teams. Six smart biometric gates have been installed at the flydubai Airport Operations Centre where the crew report for their flights. Today, flydubai has created a network of more than 135 destinations served by a fleet of 89 aircraft. The carrier has built a workforce of more than 6,400 employees, more than 1,300 of whom are pilots along with 2,500 cabin crew.
