Algeria to pass a law to encourage investments in the mining sector

The new law is part of the government push to diversify the economy and address the issue of depleting reserves and mounting debt.

The Algerian government is discussing a preliminary draft law to regulate mining activities in the country, which was submitted by the Minister of Energy and Mining. The law aims to revitalise the mining sector by creating a favourable environment for local and foreign mining investors. It also seeks to develop a more transparent, stable and sustainable mining policy that would allow simplified access to mining investment including the removal of all bureaucratic obstacles and the reduction of the deadlines for assessing applications for mining bonds. In addition, the draft text highlights the need for local processing and value adding to boost employment and technology transfer to the country.  

The new law is part of the government push to diversify the economy and address the issue of depleting reserves and mounting debt. Mining expansion in Algeria will help it build better relations with Saudi Arabia as it seeks to expand its role in the global mining industry. Furthermore, Russia, China, and the EU expressed interest in investing in such an industry. Libya and other North African countries have also pushed for revamping their mining industries as the global demand for minerals grows exponentially and supply chain security issues become more prominent.