A significant memorandum of understanding (MoU) has been signed between Algeria's industrial mining group Sonarem and Pakistan's Fatima Fertilizers, a subsidiary of the Fatima Group.
The agreement aims to strengthen bilateral cooperation in the mining industry and in the production of various types of fertilizers. The signing ceremony, which took place in Algiers, was attended by senior officials from both countries, including Algeria's Minister of State and Minister of Energy, Mines, and Renewable Energies, Mohamed Arkab, as well as the ambassadors of both nations.
The MoU establishes a framework for cooperation, with an initial focus on the commercialization of phosphate extracted from the Bir El Ater deposit, which holds over 850 million tons of reserves. The agreement includes provisions for the beneficiation and local processing of this resource, with the goal of boosting phosphate fertilizer manufacturing and strengthening related value chains. It also aims to explore partnership opportunities for industrial projects that can serve both the Algerian and Pakistani markets, as well as other international markets, through the exchange of technical knowledge.
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This partnership aligns with Algeria's broader strategy to attract investment in its mining sector and forge high-quality alliances with Asian partners who are known for their advanced industrial and technological expertise. For Pakistan, the collaboration with a leading industrial conglomerate like the Fatima Group, which has operations in fertilizers, chemicals, and energy, is a strategic move to enhance food security and develop value-added industries based on natural resources. The agreement highlights the shared commitment of both nations to economic integration and resource exploitation for mutual benefit.
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