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Albania pledges to support mineral sector

Xinhua, January 19, 2016 Adjust font size:

The Albanian government has pledged to undertake measures to support the development of its mineral sector, a senior official said here on Monday.

The government will provide financial support to ensure the sector isn't affected by the drop in the price and demand for minerals in the international market, Albanian Minister of Energy and Industry Damian Gjiknuri said.

"We are requiring a high guarantee of investments in the mines so the mining industry develops according to the best standards," he said in a meeting with the representatives of businesses operating in the sector.

On the other side, the country will also apply stricter standards when issuing environmental permits in order to preserve its environment, he added.

Data from the 2015 budget also indicates that the mineral sector is performing poorly. The mineral rent tax is a primary contributor to state revenue, and it dropped by 7 percent, causing a shortage of 15 billion lek (120 million U.S. dollars) in the budget. Endi