Algeria is preparing to enact a new mining law modeled after Saudi Arabia’s reforms, aiming to attract foreign investment and reduce its heavy reliance on volatile oil revenues.
The North African OPEC member is expected to pass the legislation in June, following several rounds of parliamentary debate in recent weeks.
Energy, Mines, and Renewable Energy Minister Mohammed Arkab presented the final draft of the new mining law to Parliament on Saturday, according to the official news agency.
“Arkab stated during the session that the new law introduces a set of measures and incentives inspired by international best practices, specifically designed to attract foreign capital to Algeria’s mining sector,” the agency reported on Sunday.
Parliament is scheduled to vote on the legislation on June 16. The new law forms a key part of Algeria’s broader strategy to boost investment in both mining and hydrocarbons by offering a more attractive legal and regulatory framework to international investors.