Amman, April 12 (Petra) -- The Lower House Energy and Mineral Resources Committee on Sunday continued discussions on a proposed copper mining agreement in the Abu Khusheiba area, in the presence of senior government officials and sector regulators.
The meeting, chaired by MP Ayman Abu Haneyyeh, included Minister of Energy and Mineral Resources Saleh Kharabsheh, Minister of State for Legal Affairs Fayyad Al-Qudah, Minister of Environment Ayman Suleiman, Chairman of the Social Security Investment Fund Omar Malhas, and Chairman of the Energy and Minerals Regulatory Commission Ziad Al-Saaydeh.
Abu Haneyyeh said the committee views the agreement as having a direct impact on a vital sector linked to the national economy, resource management and long-term sustainability. He said the committee’s role is to strike a balance between encouraging investment and safeguarding national interests, ensuring optimal use of natural resources while preserving them.
He stressed the need to balance flexibility in agreements with clarity in obligations, adding that the committee will present a balanced recommendation to parliament that protects national resources while supporting development opportunities.
Several lawmakers, including Rakin Abu Haneyyeh, Khader Bani Khaled, Islam Al-Azazmeh, Qasem Al-Qabaei, Naseem Al-Abbadi, Talal Al-Nsour, Mai Al-Hararahsheh, Saleh Abu Tayeh, Rania Khalifat and Aref Al-Saaydeh, said parliament supports projects and agreements that serve the country’s higher interests and strengthen the national economy.
Energy Minister Al-Kharabsheh said the agreement aligns with constitutional provisions and existing legislation, as well as the country’s economic modernization vision, which identifies mining as a high-value-added sector. He stressed the government’s commitment to protecting public funds and maximizing national returns.
He said the agreement aims to support the economy by attracting quality investments based on transparency, creating jobs, building success stories in the mining sector, boosting investor confidence and increasing local value addition.
Al-Kharabsheh outlined the agreement’s provisions, noting that companies must demonstrate financial capability and technical expertise. He added that the developer has a specialized technical arm.
On returns, he said the agreement includes a variable royalty among the highest levels, ranging between 3% and 10% of gross revenue depending on global copper prices, in addition to a progressive windfall tax that could reach 50% if post-tax profit margins exceed 40%, alongside other applicable taxes.
Minister of State for Legal Affairs Al-Qudah said agreements follow constitutional procedures, passing through the cabinet before being submitted to parliament for ratification, adding that Jordanian law governs the agreement.
He also outlined arbitration procedures and said the developer will be required to convert into a public shareholding company, with 49% of its shares offered through a public subscription.
Environment Minister Suleiman stressed the importance of complying with environmental requirements at all stages of the project, noting that no mining activity can begin without a comprehensive environmental impact assessment covering all phases, from preparation to extraction and rehabilitation, to ensure protection of natural resources and local communities.
He said the ministry oversees such projects under clear regulatory frameworks to ensure full compliance with environmental laws and best practices.
Malhas said the Social Security Investment Fund operates as a financial investor guided by economic feasibility, noting that its investments in the energy and mining sectors total around JD2.3 billion. He added that while the fund employs financial experts, it relies on specialized technical consultants when investing in specific sectors.
Al-Saaydeh said the Energy and Minerals Regulatory Commission carries out its oversight role in line with applicable legislation to ensure compliance with technical, environmental and safety standards. He added that the commission follows international best practices in licensing mining activities, with permits issued by its board under defined conditions and subject to legal accountability in case of violations.
He said the commission monitors project implementation to ensure compliance with operational requirements, balancing resource utilization with environmental protection and strengthening confidence in Jordan’s mining sector.
//Petra// AF
