/ 22 August 2007

Algeria mining sector shows first surplus in 11 years

Algeria saw foreign trade for its mining sector post positive results in 2006 for the first time in 11 years, with a surplus of $50,58-million, the Energy and Mines Ministry said on Tuesday.

The country spent $407,34-million in importing mining products, including $112-million in industrial minerals, $161,6-million on basic metals and $128,7-million for solid energy minerals, the official APS news agency cited the ministry as saying in a report.

The value of exports was at $457,92-million with sales reaching $205,6-million, $197-million and $3,6-million for basic metals, iron and alloys and precious stones respectively.

It was ”the first positive balance” since 1996, APS quoted the report as adding.

The North African nation has awarded exploration permits for potential mineral mining sites to try to attract foreign investment into its non-energy sector. — Reuters