Bangladesh, Algeria Discuss Mining Investment Prospects

Algerian Minister of Mines and Mining Industry, Mourad Hanifi, received Bangladeshi Minister of Energy, Electricity and Mineral Resources, Iqbal Hassan Mahmoud, in Algiers. The two parties discussed investment and partnership opportunities within the mining sector of both countries, with a particular focus on iron ores, highlighting promising prospects for future cooperation between Algeria and Bangladesh.

During the meeting, Mr. Hanifi reiterated President Abdelmadjid Tebboune's strong commitment to transforming the mining sector into a real lever for national economic growth. This initiative aims to diversify national income sources, optimize the utilization of Algeria's subterranean wealth, and create local added value through industrialization. The Minister also presented details of Algeria's new mining law, which offers competitive advantages and measures to stimulate both national and foreign investment. This legislative framework is designed to modernize the sector by simplifying administrative procedures, ensuring legal security for investors, and providing attractive tax incentives.

The discussions identified several opportunities for partnership projects that would mutually benefit both nations, with a specific emphasis on the phosphate and phosphatic fertilizers sector. The historical discovery of the first magnetite iron ore mine in Bangladesh was also noted, with both parties recognizing that this development, alongside Algeria's major structural projects, opens avenues for technical cooperation and integration. Mr. Mahmoud praised Algeria's reforms and expressed his country's interest in Algeria's mining capabilities, driven by Bangladesh's robust industrial growth and its increasing demand for raw mineral materials and industrial minerals.