Gold mining: Discussions with foreign partners

October 22nd, 2018

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APS : Sunday, 21 October 2018

ALGIERS- Minister of Industry and Mining Youcef Yousfi affirmed Sunday, in Algiers, that the public authorities are determined to exploit all the potential of gold deposits in the country,
adding that discussions are conducted to choose foreign partners.
“The exploitation of gold deposits and the development of this activity in Algeria remains a priority for us. Unfortunately, we don’t have the necessary expertise to do it alone, that is why we are discussing with foreign partners to make real gold mines,” said the minister at El Moudjahid Forum.
Underlining that the reserves of gold mines, that are currently known, exceed 100 tonnes, Yousfi said that the existing national potential “is not accurately known yet.”
Stressing the need to resort to foreign partners “who have the expertise,” the minister lamented the choice of the former partner that “wasn’t good,” as “it only exploited surface layers on very large areas, leading to an “insufficient” production of one ton per year.”
In this regard, Yousfi broached several logistical and security challenges to take up in this field, adding that exploiting these deposits in an economic way through large groups will be determined after the discussions” which are already progressing well.