Algeria is full of enormous natural resources. In addition to fossil fuels attracting foreign investors, famous rare earths and minerals, especially gold, are also in the crosshairs of large international conglomerates.
The case concerns the Australian group Lionsbridge which has expressed interest in investing in the exploitation of the two gold mines of Amesmasa and Tirek, located in the Vilaya of In Guezm, with a total area of 141,000 hectares. Indeed, the resumption of exploitation of these two mines, with exploitable reserves of 2.5 million tonnes of gold ore, has been put back on the agenda in 2023.
Algerian public group Sonarem then launched a call for national and international expressions of interest for the two mines. Following this call, the Lionsbridge group expressed its ambition to enter the gold race in Algeria.
It expressed readiness to engage in partnership projects with Sonarem in the exploitation of Amesmasa and Tirek mines. Lionsbridge CEO Brian Wesson was welcomed by the Minister of Energy and Mines, Mohamed Arkab, to make the project a reality.
The Australian official “presented a comprehensive presentation on Lionsbridge’s strategy for the sustainable and long-term development and exploitation of the Tirek and Emamesa gold deposits in the south of the country,” the Ministry of Energy and Mines said in a press release.
The Australian group benefits from the support of the authorities for gold exploitation
The Australian group is also “interested in establishing manufacturing industry projects in the area in a sustainable manner, relying on environmental protection, training, technology transfer, promotion of local materials and creation of wealth and employment,” according to the same press release.
The latter added that Lionsbridge is committed “to work seriously to preserve the environment in the region for sustainable development, relying on the company’s experience in state-of-the-art technology in the field of exploitation mining”.
It may be noted that the Lionsbridge group is based in Sydney. It is one of the leading global companies in the mining sector due to its proven experience and projects in Australia, Asia, Pacific, Africa, Europe and North America. The group therefore benefits from the support of the Algerian authorities.
Indeed, the ministry’s press release “reaffirmed the authorities’ support for participation in all investment projects aimed at creating wealth and employment opportunities in Algeria.”
