Minister of Mines: Mauritania has yet to take full advantage of its mineral resources

At yesterday’s meeting of the Council of Ministers, Mauritania’s Minister of Petroleum, Mines and Energy presented a communication concerning the country’s mining permits. According to the Ministry, this communication aims to bring transparency to the Mining Cadastre and encourage investment, while offering players in the sector the opportunity to develop their projects in the best possible way.

The Minister underlined the government’s decision to negotiate memorandums of understanding with developers whose operating permits have expired, in order to extend them. The aim of this approach is to avoid a repeat of the problems that led to the current permit situation.

At a press conference following the meeting, the Minister recalled that Mauritania is rich in mining resources, with over 900 mineral showings throughout the country. However, despite this abundance, only three companies are already in the production phase: SNIM (Société Nationale Industrielle et Minière) for iron production, MCM (Mauritanian Copper Mines) for copper production and Tasiast Mauritanie Ltd. S.A for gold production. This situation, the Minister added, has led to a thorough reflection on how Mauritania can better capitalize on its mineral resources for the benefit of its economy and population.

The Minister pointed out that Mauritania has not yet taken full advantage of these precious resources, and announced the implementation of a roadmap to capitalize on this potential. This initiative will enable the holders of 14 permits, 7 of which are currently inactive, to resume their activities. A work plan will be put in place, with targets to be achieved, to optimize the exploitation of the country’s mining resources.

According to official figures, Mauritania has abundant resources, including iron (15 billion tonnes), gold (150 million ounces), copper (28 million tonnes), uranium (100 million pounds) and 250 million tonnes of phosphate.