Mauritania Charting a Course to Sustainable Growth By Oxford Business Group
While Mauritania was hard hit by the Covid-19 pandemic, the country is now charting a course to economic recovery and resilience. Leveraging ample natural resources, Mauritania is working to add more value to traditional sectors such as mining, agriculture and fisheries, while also seeking new sources of revenue to achieve sustainable and inclusive growth and job creation, particularly for young people, reports Oxford Business Group. “Mauritania is determined to contribute to the development and deepening of its economic and commercial partnerships with the countries of the continent by taking advantage of its geostrategic position and natural resources, as well as promoting the private sector, a favourable business climate and the numerous investment opportunities that our country offers,” says Mohamed Ould Ghazouani, President of the Islamic Republic of Mauritania.
contributing 59% of exports by value and nearly 10% of GDP, as well as one-10th of government revenue. Iron ore and gold mining are predominantly centred in Fderik, in the Sahara Desert, while copper is primarily found around the western city of Akjoujt. Iron ore and gold are two of the country’s largest exports, with the former earning $1.7bn in 2019, though the processing of both largely takes place overseas.
MINING SECTOR
The government of Mauritania is committed to diversifying the mining sector and is placing greater emphasis on non-metal commodities such
Mining remains an important engine of economic growth for Mauritania,
as limestone, clay for construction, phosphate and industrial minerals. Importantly, the National Industrial and Mining Company (Société Nationale Industrielle et Minière, SNIM), Africa’s second-largest iron ore producer, has attracted African Development Bank Group and European Investment Bank support to enlarge the berthing capacity at the Port of Nouadhibou, from which it ships export cargo abroad. The project plans to deepen and widen the SNIM’s berths to handle larger ships, maximising the efficiency of its transport chain while reducing costs. ARAB-BRITISH CHAMBER OF COMMERCE | 25
