Mining market in Mauritania
Industry highlights
24%
Mining sector's contribution to Mauritania's GDP (2023).
$0.5 billion
Capex for advanced mining projects in 2022.
12,000
Jobs in Mauritania's mining sector in 2023.
3
Canadian exploration and mining companies area active in Mauritania, with $3.2 billion in mining assets in 2023.
70%
of global exploration spent in Mauritania in 2023
$4 billion
Total value of mining exports 2023.
Mauritania is rich in mineral resources and its mining sector plays a leading role in its economy. The country currently produces iron ore, gold, copper, and gypsum. Projects are being developed involving rare earths, phosphates, lead, zinc, platinum, chromium, manganese, vanadium, uranium, peat, and industrial minerals.
Key opportunities for Canadian mining companies in Mauritania
- Industry engineering, including processing, enhancement, and hydrometallurgy for gold
- Rehabilitation of mining sites
- Water treatment and reusing of water waste
- Implementation of solar and wind power project
Notable challenges for Canadian mining companies in Mauritania
Mining sites are often located in remote areas with limited infrastructure
Scarcity of water resources
Lack of access to the energy network
Mauritania's business landscape
The investment climate in Mauritania remains challenging, with relatively weak institutions and an ongoing political transition. Canada and Mauritania are currently in discussions regarding a Foreign Investment Promotion and Protection Agreement (FIPA). Despite these challenges, Mauritanian mining companies continue to pursue investments and development strategies. Two key projects are of particular interest:
- The Tasiast expansion project, announced in 2022, for which Kinross has secured $300 million USD from the World Bank.
- Société Nationale Industrielle et Minière (SNIM), the second-largest iron ore producer in Africa, has an expansion and modernization program aimed at increasing production from 15 million to 40 million tons.
Summary
Mauritania's mining sector is a significant contributor to its economy, accounting for 24% of GDP in 2023. The country produces key minerals like iron ore, gold, copper, and gypsum, with ongoing projects focused on rare earths, phosphates, and other industrial minerals. Canadian mining companies have opportunities in areas such as gold processing, site rehabilitation, and renewable energy projects. However, challenges include remote mining sites, water scarcity, and limited access to energy. Key projects like the Tasiast expansion and SNIM's production increase are shaping the sector's future.
For more information on mining market in Mauritania, please contact Zouhair Kanouni, Trade Commissioner (zouhair.kanouni@international.gc.ca).
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