Algeria to open mining sector to international ownership

Algeria to open mining sector to international ownership
Source: ZAWYA / Caption: Algeria to allow wider foreign ownership of mines to boost production of minerals

Sonarem, Algeria’s state-owned mining company, has announced that new legislation will permit foreign companies to hold up to an 80% stake in the country’s mining projects. The vote in parliament is set for June 16th. Speaking to Bloomberg news, Sonarem’s CEO Belkacem Soltani said, “there is a global strategic vision for the country to promote and transform high value-added mining projects”.

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