Algeria is aiming to strengthen its metals and mining sector by allowing up to 80% foreign participation and simplifying project approval.

Algeria is making plans to open its metals & mining sectors to more investment from abroad to help it move beyond relying on hydrocarbons. A new plan for legislation would be voted on June 16 and would increase the limit for foreign companies in mining projects to 80% from the current 49%.

The decision represents a change for North Africa, since before; government-owned businesses controlled most mining activity in the region. Sonarem CEO Belkacem Soltani has explained that the country is seeking to improve licensing and buy less steel and marble from abroad.

Due to its phosphates, iron ore and lithium resources, Algeria has already been noticed by leading companies globally. A joint effort with Sinosteel from China and a partnership with Tosyali Holding from Turkey are helping with iron ore development and Terramin’s focus is lead and zinc.

There are also plans for gold exploration tenders and for advancing a $1.5 billion phosphate initiative with Sonatrach. These projects, according to Soltani, are included in the wider vision to get valuable results and spark private investment.

Algeria’s metals & mining sector may soon rise as a leader in the region, thanks to its solid international partnerships and the planned construction of $4 billion in processing plants.