Algeria mulls changes to mining rules to attract foreign investment
Algeria’s parliament is preparing to vote on legislation that would ease restrictions on foreign ownership in the mining sector,
Senior officials from Iran, Egypt, and the United Nations met in Cairo on Monday to discuss Iran’s nuclear program as negotiations continue between Tehran and Washington over curbing nuclear enrichment in exchange for sanctions relief.
The meeting followed a recent report by the International Atomic Energy Agency (IAEA), warning that Iran is edging closer to producing weapons-grade uranium.
The confidential report viewed by the Associated Press claims Iran had accumulated 900.8 pounds of uranium enriched up to 60% as of May 17—an almost 50% increase since the agency's last report in February. Experts note that 60% enrichment is just a short technical step away from the 90% level required for nuclear weapons.
Iranian Foreign Minister Abbas Araghchi, who led the Iranian delegation, strongly rejected these concerns, stating, “As long as nuclear activities are conducted under IAEA monitoring, there is no reason for alarm. Iran is not pursuing nuclear weapons and possesses no undeclared materials or activities.”
Araghchi met with Egyptian President Abdel Fattah el-Sisi, Foreign Minister Badr Abdelatty, and IAEA Director-General Rafael Mariano Grossi. He suggested the report was politically driven, possibly linked to Grossi’s rumored ambitions to become the next UN secretary-general.
Speaking in Cairo, Araghchi said Iran would soon respond to the latest U.S. proposal but warned that “no agreement will be possible unless Iran’s right to enrich uranium is fully respected.”
Beyond nuclear discussions, Araghchi’s visit also reportedly aimed to boost Iran-Egypt ties. This marks his third trip to Cairo since assuming office in 2024—a notable development given past tensions, particularly over Iran’s historical support for Hamas, an organization aligned with the Muslim Brotherhood, which El-Sisi deems a security threat.
Observers say the warming ties between Iran and Egypt could raise concerns in Israel, which considers Iran its primary regional adversary.
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