Algeria has passed groundbreaking legislation allowing foreign investors to own up to 80% of mining projects—a major shift for the oil-rich nation as it aims to diversify its economy. The new law requires companies to obtain a single mining permit, valid for up to 30 years, for both exploration and extraction of minerals. The move is designed to simplify investment, attract private capital, and enhance domestic production of key minerals like phosphate, iron ore, and zinc. Algiers, which relies on hydrocarbons for over 75% of exports and half its state revenue, is seeking stability amid volatile energy prices. The economy of the North African country is projected to grow by 3.5% this year, leading the International Monetary Fund to push for alternative revenue sources.
Bloomberg
