Algeria awarded exploration licences for five potential mining sites to Chinese and Canadian firms on Sunday as it seeks to draw foreign investment into its non-energy sector, the official APS news agency said.
Chinese firm Cecomines got rights to three sites believed to contain antimony, lead and zinc in the eastern provinces of Guelma, Tebessa and Souk Ahras, and China's Socom won a contract to explore for gold at one site in the southern province of Tamanrasset, the official agency said. Canadian firm Mines Cancor won a deal for a site believed to contain gold in the same province of Tamanrasset, APS said. Algeria, Africa's second-biggest country, produced an estimated 21,000 ounces of gold in 2004.
The five sites are part of a tender launched earlier this year for nine sites. Another tender will be launched later for the remaining sites, which attracted no bidders, APS said. The three firms offered a total of $2.36 million for the five sites, and exploration is to be completed between 24 and 36 months. The government has been trying to boost investment in the sector, which is weak despite being opened to foreign and private companies since 2001.
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