Algiers – Iranian companies have expressed strong interest in investing in Algeria’s burgeoning mining sector, according to a statement released by the Ministry of Hydrocarbons and Mines.
Karima Bekir Tafer, the Secretary of State in charge of Mines, received the Iranian Ambassador to Algeria, Mohammad Reza Babaei, in Algiers on Sunday. During the meeting, Ambassador Babaei conveyed the eagerness of Iranian firms to bolster their presence and explore investment prospects within Algeria’s mining industry.
The discussions highlighted the potential for collaboration and partnership between Algerian and Iranian entities in the development of mineral resources. The Algerian government has been actively seeking foreign investment to modernize and expand its mining operations, aiming to diversify its economy beyond hydrocarbons.
The mining sector in Algeria holds significant promise, with substantial reserves of various minerals, including iron ore, phosphate, and gold. The government has implemented reforms to attract foreign investors, including streamlining regulations and offering incentives.
This expression of interest from Iranian companies underscores the growing economic ties between Algeria and Iran. Further details regarding specific investment projects and agreements are expected to be announced in the coming months as discussions progress.
DZWatch will continue to monitor developments in this area and provide updates as they become available.
