Algeria's once steadfast 51-49 rule on foreign investment, a hallmark of its national sovereignty, has undergone a seismic shift. The Algerian government has introduced a new mining law that permits foreign entities to own up to 80% of shares in strategic sectors, reducing the Algerian stake to a mere 20%. These concession contracts can span up to 30 years and include provisions for renewal, transfer, and mortgaging. This policy change has ignited a fervent debate across Algeria. In a rare display of unity, several political parties, including the New Generation, Workers' Party, and Rally for Culture and Democracy, have openly criticized the law. They have called on the president to retract it, citing «deep concern over the sudden and radical shift in the direction governing the mining sector, as it contradicts national interests.» American companies are poised to be the primary beneficiaries of this new legislation. Over the weekend, Bloomberg reported that Algeria is on the verge of sealing a deal with U.S. giants ExxonMobil and Chevron to tap into its abundant gas reserves, including shale gas, for the first time. The introduction of this law follows a proposal made by Algerian Ambassador to Washington, Sabri Boukadoum, to President Donald Trump last March. Boukadoum had declared to an American media outlet that «Algeria is ready to discuss» a comprehensive agreement with the United States concerning its vast natural and mineral wealth, emphasizing that «the sky is the only limit» to the partnership Algeria aims to forge with the Trump administration. These developments in Algeria occur against the backdrop of Morocco's significant strides in the Sahara conflict, where key nations have voiced support for the autonomy initiative under Moroccan sovereignty. The U.S. administration has consistently reiterated its recognition of Morocco's sovereignty over the Sahara.
