• Lion Group to explore and exploit gold, copper, and manganese in Algeria

• Malaysian firm plans $8 billion investment in metallurgy and steel sectors

• Mega project to be established in Boumerdès over 300-hectare site

Malaysian conglomerate Lion Group has signed a memorandum of understanding with Algeria’s National Company for Mining Research and Exploitation (Sonarem) to strengthen cooperation in the exploration and exploitation of mineral resources, including gold, copper, and manganese. The agreement was announced by the Algerian Ministry of Energy, Mines and Renewable Energies on Sunday, June 15.

The partnership also covers the development of future mining sites and the processing of extracted resources. The agreement was signed in Algiers in the presence of Minister of Mines Karima Tafer and forms part of Sonarem’s strategy to expand collaboration with leading global mining firms.

According to the Algerian Agency for Investment Promotion (AAPI), Lion Group plans to invest $8 billion in the country’s metallurgy, steel, and aluminum sectors. The group’s major industrial project will be located in the northern province of Boumerdès, spanning nearly 300 hectares.

A delegation from Lion Group was previously received by Algerian President Abdelmadjid Tebboune on December 18, 2024, as reported by the national press agency APS.

Founded in the 1930s as a steel manufacturer, Lion Group has since diversified into mining, agriculture, real estate, IT, and retail. In addition to its Malaysian operations, the group is active in China, Singapore, Hong Kong, Cambodia, and Laos.