On 6 May 2026, Prime Ministerial Decree No. 1440 of 2026 was published in the Official Gazette, amending several provisions of the executive regulations of the mineral resources law no. 198 of 2014 (the “Mining Law”) issued by prime ministerial decree no. 108 of 2020 (the “Old ER”). The amendments became effective on the day following their publication, i.e., 7 May 2026 (the “New ER”).
The amendments introduce a broad set of regulatory, financial, and operational changes affecting mining, quarrying and saltworks activities in Egypt. The changes mainly address licensing procedures, rental values, royalty rates, competent authority approvals, laboratory licensing, and additional operational areas required for mining-related activities.
The amended Article 1 clarifies that the New ER apply not only to exploration and exploitation licences for mines, quarries and saltworks, but also to licences for laboratories conducting analysis of rocks and minerals, quarry and saltworks materials, which implement the Mining Law’s existing framework.
The amended Article 1 also confirms that rentals and royalties relating to mines, quarries and saltworks shall accrue to the State Treasury.
The Old ER already required Ministry of Defence approval before licences were issued. Under Article 8, the New ER adds a requirement to complete the necessary coordination for the approval of the Armed Forces Operations Authority, to review the impact on State defence, formalising a requirement previously observed in practice.. It also expands the list of restricted areas requiring approvals for licence issuance to include public properties connected to water resources and irrigation, areas near nuclear installations, and areas known to potentially contain radioactive materials.
Importantly, the relevant authorities must respond to approval or coordination requests within thirty (30) days from the submission of all required documents.
The amended Article 11 permits the Mineral Resources and Mining Industries Authority (the “MRMIA”) to establish or participate in specialised companies conducting exploration, exploitation and mining activities for mines, quarries and saltworks inside or outside Egypt.
Public capital participation in such companies must not be less than 10% (ten per cent), without prejudice to concession agreements issued by law, while under the Old ER, public capital participation in companies established or participated in by the MRMIA for mining activities could not be less than 25% (twenty-five per cent).
The amended Article 14 introduces the Egypt Mining Portal as an electronic platform for submitting exploration licence applications, while maintaining manual submission as an available option.
This supports the broader digitalisation of mining licensing procedures, although the substantive document and approval requirements remain in place.
The amendments under Article 19 revise the renewal mechanics for exploration licences. While the Old ER required the licensee to submit the renewal application at least six (6) months before the expiry of the licence, the amended Article 19 requires only that the renewal application be submitted before the licence expires, without the prior six-month advance requirement.
The amendments also increase the minimum annual exploration expenditure from four (4) times to ten (10) times the applicable annual rental value, while allowing excess expenditure incurred in one (1) exploration period to be credited against the minimum expenditure required in subsequent exploration periods, subject to satisfying the relevant technical obligations.
The Old ER applied flat annual advance rental values per km² for each exploration period. The New ER replaces this with a tiered structure based on the size of the exploration area for each exploration period: one (1) km² to sixteen (16) km², seventeen (17) km² to one hundred and seventy-five (175) km², and areas exceeding one hundred and seventy-five (175) km².
For areas from one (1) km² to sixteen (16) km², annual advance rentals range from EGP 4,300 (four thousand three hundred Egyptian pounds) per km² in the first exploration period to EGP 17,200 (seventeen thousand two hundred Egyptian pounds) per km² in the fourth exploration period.
For areas from seventeen (17) km² to one hundred and seventy-five (175) km², annual advance rentals range from EGP 2,580 (two thousand five hundred and eighty Egyptian pounds) per km² to EGP 12,900 (twelve thousand nine hundred Egyptian pounds) per km².
For areas exceeding one hundred and seventy-five (175) km², annual advance rentals range from EGP 1,720 (one thousand seven hundred and twenty Egyptian pounds) per km² to EGP 11,180 (eleven thousand one hundred and eighty Egyptian pounds) per km².
In general, the new rental values are lower than the previous flat rates, particularly for larger areas. However, these should be considered alongside the increased minimum expenditure obligation, as lower rental values do not necessarily result in a lower overall exploration commitment.
Under the Old ER, the ability to add minerals to an exploration or exploitation licence was mainly linked to cases where the new mineral was mixed with the licensed mineral and could not be extracted separately. The New ER is broader under Articles 20 and 30, whereby a licensee may add any ores or mineral materials to the relevant licence, subject to the MRMIA’s Board approval.
For exploitation licences, the licensee must pay the applicable royalty on the annual production of the added mineral, but no additional rent is payable for the added mineral.
The amended Article 31 increases the annual rent for exploitation licences from EGP 25,000 (twenty-five thousand Egyptian pounds) per km² to EGP 35,000 (thirty-five thousand Egyptian pounds) per km². The rent for white sand remains EGP 9 (nine Egyptian pounds) per square metre, and the New ER introduces a specific annual rent of EGP 1 (one Egyptian pound) per square metre for kaolinitic sand or sandy kaolin.
The amended Article 32 provides that any unlisted ore or mineral is subject to a 6% (six per cent) royalty.
The New ER also provides that local market prices for royalty calculation are determined by a committee formed by the MRMIA’s Chairman, rather than by a committee formed by the competent minister under the Old ER.
The amended Article 85 revises the rental values for areas leased outside the exploration or exploitation area for facilities, buildings, storage, industrial purposes, utilities, or related operational needs.
The annual rental is:
The amendments also reduce the portion of the rental value allocated to the relevant governorate from 25% (twenty-five per cent) to 15% (fifteen per cent).
Consistent with the Mining Law, which provides that laboratories analysing rocks and minerals, quarry and saltworks materials must be licensed by the MRMIA, the New ER introduces the detailed licensing framework for such laboratories.
Article 107 of the New ER regulates the application process and sets operational standards for licensed laboratories, including:
On oversight and inspection, the MRMIA may carry out periodic or surprise inspections to verify compliance, withdraw samples to check the accuracy of results, and issue written notices requiring violations to be remedied within a period determined by the MRMIA. In cases of serious violations, result manipulation, or breach of data confidentiality, the MRMIA may withdraw the licence.
The licence is valid for three (3) years and renewable following a comprehensive review. Issuance fees are EGP 1,000,000 (one million Egyptian pounds) for sample preparation laboratories and EGP 3,000,000 (three million Egyptian pounds) for full analytical laboratories. Renewal fees are EGP 500,000 (five hundred thousand Egyptian pounds) and EGP 1,000,000 (one million Egyptian pounds), respectively.
Laboratories may not advertise their services or commence activities before obtaining the licence.
The New ER amends the existing mining framework to deliver a combination of investment facilitation and tighter fiscal and compliance controls. In practical terms, the amendments make the licensing process more structured, introduce clearer financial obligations for exploration and exploitation activities, and expand the MRMIA’s oversight role, particularly in relation to added minerals, laboratory licensing, and ancillary operational areas.
On the investment side, the reduction of the minimum public capital participation threshold to 10% (ten per cent) opens new structuring options for joint ventures with the MRMIA, the broadened mineral add-on rights provide greater project flexibility, and the Egypt Mining Portal digitalises the application process.
While some changes are procedural, such as the introduction of the Egypt Mining Portal and updated approval mechanics, others may directly affect project costs, including the tenfold increase in minimum exploration expenditure, higher exploitation rent, increased ancillary area rentals and the expanded scope of the MRMIA’s oversight, including a new laboratory licensing regime, all of which raise the bar for operational compliance.
Clients with active or planned mining projects should assess how the revised expenditure commitments, royalty mechanics and ancillary area ratios interact with their project economics and licence structures.
The contributors to this article are Malak Khalil, Partner – Head of EENR, Sadeem Abdelsalam, Managing Associate, and Zeina Jowett, Associate.
We are pleased to share our latest report highlighting the laws and decrees issued in the first quarter of 2026.
To access the report, click on the attachment below.
If you are interested in acquiring a copy of the legislation and keen on remaining up to date with the most recent laws and decrees, sign up here.
We are pleased to launch our new quarterly publication series, ADSERO's Egyptian Labour Law Newsletter, which aims to provide valuable insights into key regulatory updates relevant to our clients and the broader business community.
Our inaugural Q1 2026 issue, authored by Alia Monieb, Partner – Head of Employment, Abdalla Shohdy, Managing Associate, Hana Abouelmagd, Junior Associate, and Seifeldin Hamad, Junior Associate, provides a comprehensive overview of the recent implementing decrees issued pursuant to Labour Law No. 14 of 2025. This edition highlights noticeable shifts in employment structuring, working hours, employees welfare, and expanded employer obligations.
Through this series, we aim to share our team’s expertise and contribute to informed discussions on Egypt's evolving labour landscape.
To read the full update, click here.
Check out our latest interview where Ragy Soliman, Managing Partner, Co-Head of M&A and Capital Markets at ADSERO, speaks to Alyaa Stouhy from Capital Call Magazine by EPEA on why investment continues to hold firm in Egypt despite regional tensions, the sectors attracting the strongest investor demand, and the structural reforms needed to unlock Egypt's full potential as an FDI destination.
To read the full article, click here.
We advised Banque Misr, in its capacity as initial mandated lead arranger and facility agent, and SAIB and Abu Dhabi Commercial Bank - Egypt (ADCB), in their capacities as principal arrangers and lenders, on a long-term syndicated facility of EGP 2.917 billion and USD 35.366 million extended to Andalusia October Hospital for the construction and equipping of a fully integrated hospital in 6th of October City, under the umbrella of Andalusia Egypt.
Our team was led by Hossam Gramon, Partner – Head of Banking & Project Finance, and Karima Seyam, Senior Associate, assisted by Malak Zaki, Associate, Nour Osama, Associate, Karim Madian, Junior Associate, and Mostafa Serry, Junior Associate.
We had the pleasure of working alongside our colleagues Mahmoud Abdallah, Amr Hany, and Dina Atta from Banque Misr on this transaction.
We congratulate our clients, Banque Misr, SAIB, and ADCB Egypt on the successful closing of this transaction, and extend our best wishes to Andalusia Egypt on this significant milestone in their long-term growth programme in Egypt.
For more information, check out BM’s coverage here.
#AndalusiaHealth #BanqueMisr #SAIB #ADCB #TeamAdsero #AdseroLawFirm
We are pleased to share our most recent report highlighting the critical decisions issued by the Board of Directors of the Financial Regulatory Authority (FRA) during the first quarter of 2026.
To access the first issue, click on the attachment below.
We are proud to serve as a Strategic Sponsor for the new edition of "Capital Call," a dialogue platform hosted by The Egyptian Private Equity and Venture Capital Association (EPEA) in collaboration with the Financial Regulatory Authority FRA, bringing together regulators, investors, and service providers across the private equity and venture capital ecosystem.
As part of our participation, Hossam Gramon, Partner - Head of Banking and Project Finance, will deliver a speech on “The Investment Climate in Egypt: Enhancing the Business and Investment Environment.” The discussion will explore key regulatory developments, current market dynamics, and actionable pathways to foster a more robust investment landscape in Egypt.
We are proud to announce that ADSERO - Ragy Soliman & Partners has once again been accredited under the Lexcel standard by The Law Society of England and Wales for the sixth consecutive year, remaining the only Egyptian law firm in the MENA region to achieve this recognition. This reaffirms our commitment to excellence in legal practice management and client service.
Our latest audit reaffirmed our commitment to excellence across key areas of practice management and client service. Among the highlights, we continue to foster strong leadership and knowledge-sharing, maintain robust financial management and security policies, and uphold best practices in learning and development for both lawyers and support staff. Our structured approach to performance management and client care further ensures we provide high-quality legal services tailored to our clients’ needs.
We extend our sincere appreciation to Eric Xuereb from Recognising Excellence for their valuable insights during the assessment, and to the Solicitors Regulation Authority of the UK for supporting firms in upholding legal excellence.
To learn more about Lexcel, click here.
ADSERO – Ragy Soliman & Partners is proud to serve as production sponsor for Cottonopolis 2025 by Egyptian artist Khaled Hafez, presented at the Nauru National Pavilion of the 61st International Art Exhibition – La Biennale di Venezia.
AiM INUNDATED – Imagining Life After Land brings together artists from around the world to explore questions of land, identity, and belonging in the context of climate displacement.
We are proud to support Khaled Hafez as his work reaches one of the world's most prominent art platforms.
The exhibition opens 6 May 2026 at the Nauru Pavilion, Venice. Pre-opening days run May 5–8, 10am–7pm.
We acted as local counsel to Ministry of Finance, Egypt (MoF) on the successful issuance of USD 1 billion in sovereign Eurobonds in the international debt markets: a USD 250 million, 3-year bond will be consolidated with existing USD 1.75 billion in bonds. A USD 250 million, 4-year bond will be consolidated with existing USD 1.25 billion in bonds. A USD 500 million, 7-year bond will be consolidated with existing 7-year bonds.
Our team was led by Hossam Gramon, Partner – Head of Banking & Project Finance, assisted by Karima Seyam, Senior Associate, and Nour Osama, Associate.
We congratulate Egypt’s MoF on this successful issuance, which reflects continued investor confidence in Egypt’s sovereign debt markets.
We are also pleased to have worked alongside our colleagues at Baker Botts, international legal counsel to the issuer, and Linklaters together with Zaki Hashem, Attorneys at Law as international and local counsel to the banks, respectively.
For more information, check out AlborsaNews’s coverage here.
We advised International Group For Modern Coatings - MIDO, one of Africa’s leading specialty paints and coatings manufacturers, on a USD 45 million mezzanine debt investment by Vantage Capital, Africa’s largest mezzanine debt fund manager.
This transaction marks Vantage Capital’s third investment in Egypt and is among the largest mezzanine debt transactions in the country’s history, with proceeds directed toward debt refinancing and working capital funding.
Our team was led by Hossam Gramon, Partner – Head of Banking and Project Finance, assisted by Hussien Moustafa, Managing Associate, Nour Osama, Associate, and Karim Madian, Junior Associate.
We extend our congratulations to our client, MIDO, on this milestone transaction, and extend our best wishes to Vantage Capital on their continued commitment to Egypt’s industrial growth.
We are also pleased to have worked alongside our colleagues at Matouk Bassiouny, and Werksmans Attorneys, legal advisers to Vantage Capital.
For more information, check out Ahram Online's coverage here.
We advised MENA-focused venture capital fund A15 on the successful sale of its portfolio company, Viral Wave, to PopArabia, the regional partner of NASDAQ-listed Reservoir.
Our team was led by Ahmed Adib, Partner, assisted by Laila Shoukry, Senior Associate, and Ahd Ayad, Junior Associate.
We extend our congratulations to Karim Beshara, Managing Partner at A15, Bassem Raafat, Principal at A15 , Noha Sharaf, General Counsel at Paymob, Sherine Sherif, General Counsel at A15, Marwa Hassan, Senior Legal Associate at A15, Medhat Karam, CEO at ArpuPlus, Ahmed Erman, CFO and Deputy CEO of ArpuPlus, and Rania Ibrahim, Senior Commercial Manager at ViralWave, on this achievement.
For more information, check out Enterprise's coverage here.
Highlights
On 3 February 2026, the Financial Regulatory Authority (the “FRA”) issued decree no. 332 of 2025 (the “Decree”), establishing a comprehensive regulatory framework governing the approval of brokerage companies to receive clients’ orders for trading securities through a digital platform.
Scope of Application
The Decree applies to all licensed securities brokerage companies in Egypt that wish to obtain the FRA’s approval to receive clients’ orders for trading securities on their behalf through digital platforms and to display data and information.
The framework regulates both:
The Decree further governs the approval process for Digital Platforms, the technical and cybersecurity standards applicable to their operation, and the disclosure and transparency obligations applicable to brokerage companies using such platforms.
Key Requirements:
The Platform Manager must submit an application including:
The FRA’s approval is subject to the following requirements:
Prohibited activities include:
Obligation of brokerage companies include:
Disclosure requirements on the Digital Platform include:
Implications
The Decree aims to:
Conclusion
The Decree establishes a clear regulatory distinction between Brokerage Companies and Digital Platform Managers, confining Digital Platforms to a technical transmission and display function while prohibiting advisory, promotional, or brokerage-related activities.
It reinforces encryption, cybersecurity, transparency, and complaint-handling obligations, while maintaining brokerage companies’ full regulatory responsibility for client onboarding, order execution, fintech compliance, and AML obligations.
The contributors to this article are Hossam Gramon, Partner - Head of Banking and Project Finance, Nour Osama, Associate, and Karim Madian, Junior Associate.
We are pleased to share ADSERO’s ranking in the Chambers and Partners Global Guide 2026.
This year, ADSERO’s rankings, which include 5 practice areas and 6 ranked lawyers, reaffirm our firm’s continued growth and diversification. These achievements solidify our position as a leading firm in Egypt, uniquely positioned to deliver comprehensive legal solutions and facilitate seamless cross-border transactions within the MENA region and beyond.
A special congratulations to Osman Mowafy – Senior Partner, Head of Dispute Resolution: Litigation, and Hossam Gramon – Partner, Head of Banking & Project Finance, for their individual rankings! We also extend our congratulations to all of our ranked partners and team members whose expertise and dedication have made this recognition possible.
To view our full rankings and editorial coverage, click here.
We are pleased to share ADSERO’s latest contribution to the preparation of a comprehensive reference guidebook issued by the Ministerial Group for Entrepreneurship, in collaboration with Entlaq Holding. The guidebook brings together all government services, permits, and licences required by startups, including applicable fees, required documentation, and issuance procedures, providing a practical and accessible roadmap for founders and investors navigating Egypt’s regulatory landscape.
This initiative represents a qualitative leap for Egypt’s entrepreneurship ecosystem. Over the course of more than a year, ADSERO’s teams conducted an extensive legal review covering more than 20 sectors, including TMT, general corporate, fintech, employment, and regulatory frameworks.
Our insights were provided by Mohamed Abdelgawad, Partner and Head of Corporate, Commercial and Regulatory; Aya Yassin, Senior Associate; Habiba Tarek and Marwan Awny, Junior Associates.
We would like to extend our thanks to Hossam Gramon, Partner and Head of Banking and Finance; Alia Monieb, Partner and Head of Employment; Mahmoud Attia, Senior Associate; Rawan Roshdy, Managing Associate; Associates, Khaled Omar, Malak Zaki, Nour Osama, and Omar Shokair; and Nour El Kholy, Junior Associate, for their support and input throughout the process.
To explore the platform click here.
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