Investments in the mining sector – Figures / In 2020, entities report $ 21.9 million investments, chrome leads

Despite the situation created by COVID-19, investments in the mining sector by entities have not been lacking. According to official data from the National Agency of Natural Resources, which refers to the statements of companies, in total, the value of investments in the mining sector for 2020 reached 2.24 billion ALL or 21.9 million USD. Mining entities with foreign capital have invested 789.9 million ALL or 7.74 million USD.

While the value of investments by companies with Albanian capital is even higher, being recorded at 1.45 billion ALL or 14.2 billion USD. The largest investments are recorded in the direction of corm ore, being fixed at 1.19 billion ALL, while after this mineral comes copper with 486 million ALL, as well as bitumen and bituminous gravel with 155.2 million ALL. Recently, parliamentary committees are approving several amendments to the law “On the mining sector”, aimed at facilitating investment. According to the amendments, it is envisaged that the obligation to deposit a financial investment guarantee for exploration permits will be reduced by 10%.

Currently this value is equal to the value of the investment that the company is expected to make each year, but the mining companies consider it as a very heavy financial burden, as it blocks part of the company’s liquidity. The past year was difficult for the mineral sector, due to the situation created by COVID-19, which was followed by falling demand and falling mineral prices in international markets.

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