Albania is looking to give its mining industry a major boost as it plans on issuing 151 mining licenses this year. The Ministry of Economy, Trade and Mining said on Thursday that they planned to allocate 20 of these mining licenses in weekly competitions.
The ministry has already published the details of 36 of the mining areas on offer, the details of these can be accessed at the website of the ministry. They are also working with a new package of laws on mining which hope to reform the sector.
The package consisted of improvements aiming to better administer the country's mining wealth and their rational exploitation in addition to promoting the sector's sustainable development while respecting the environment. The country has abundant resources of bauxite, chrome, coal, copper, iron and nickel.
Economy, Trade and Energy Minister Nasip Naco had previously revoked the licenses of 43 mining companies and the government. The lower revenues being generated that helped push through the last wave of major privatization of state assets.
Of the foreign mining firms Austria's DCM Decometal and Canada's Empire Mining mine chrome in the nation while Canada's Tirex Resources is conducting drilling for copper and gold.