In a major development for North Africa’s industrial sector, Algeria’s state-owned mining company Sonarem has signed a memorandum of understanding with Malaysia’s Lion Group to collaborate on mining exploration, processing, and steel production.

According to a statement released by the Algerian Ministry of Energy, Mines and Renewable Energies, the partnership aims to promote joint investments, facilitate the exchange of technical expertise, and enhance workforce development in Algeria’s growing metallurgical sector.

As part of the ambitious project, Lion Group will invest approximately $8 billion into Algeria’s metallurgy, steel, and aluminum industries. The collaboration also includes the construction of a new export port in Boumerdès, a key logistical element expected to support future export operations.

The initiative is projected to create around 10,000 new jobs, offering a significant boost to the local economy and reinforcing Algeria’s position as a rising industrial hub in the region.