Algeria's parliament on Monday passed a new law allowing foreign companies to own up to 80% of mining projects, a move aimed at attracting more investment and reducing the economy’s heavy reliance on hydrocarbons.
The new legislation, governing mining activities, stipulates that a national company (a state-owned mining enterprise) must hold a 20% stake in any Algerian-registered entity applying for a mining license, while foreign investors can hold up to 80%. The law bars any dilution of the national company’s stake in the joint venture during a capital increase, unless the national firm explicitly agrees otherwise. National and foreign partners may also agree to a higher participation for the state entity if economically justified for both sides.
Partner companies will be eligible for a single mining permit valid for 30 years, covering both exploration and extraction phases.
The law also allows unexplored areas to be allocated to foreign firms with advanced technology for initial exploration operations, prior to the creation of an Algerian-registered joint venture. However, areas where mineral discoveries have already been made are excluded from this provision.
Further streamlining the process, the legislation introduces simplified administrative procedures, shorter approval timelines for licenses and permits, improved transparency in concession awards, and open access to geological information.
The Ministry of Energy and Mines stated in a press release that the legislative text aims to boost the sector’s appeal, improve the business environment, and diversify national revenue sources beyond hydrocarbons. The ministry added that the law is the result of three years of consultations and in-depth studies involving all stakeholders in the mining sector.
Expanding the mining industry could help Algeria curb its historical dependence on hydrocarbons, which still account for over 90% of exports and nearly half of the state's revenues.
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