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The Mineral Industry of Mauritania in 2015

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The Mineral Industry of Mauritania in 2015 2015 Minerals Yearbook MAURITANIA [ADVANCE RELEASE] U.S. Department of the Interior June 2019 U.S. Geological Survey The Mineral Industry of Mauritania By Mowafa Taib The mining sector has been an important contributor to foreign investment in the mining sector of Mauritania. The code Mauritania’s economy for more than 50 years; it accounted minier [mining law] awards exploration permits on a “first- for 22.9% of the country’s gross domestic product (GDP) in come, first-served” basis for a 3-year period that can be renewed 2015. Mauritania’s economy, which was heavily dependent on twice for up to 3 years each time. Mining licenses are awarded mining, continued to be adversely affected by the decline in for a 30-year period and are renewable for up to 10 additional crude petroleum and metal prices in 2014 and 2015, especially years. The law exempts mining companies from customs that of iron ore. The GDP increased in real terms by only 0.2% duties for equipment during exploration and the first 5 years compared with a revised increase of 6.6% in 2014. In 2015, of production and permanently on fuel and spare parts. The Mauritania supplied the world with copper, crude petroleum, tax code includes a 25% corporate income tax rate after a tax gold, and iron ore. Mauritania was Africa’s 2d-ranked exporter exemption for the first 3 years of production, a tax withholding of iron ore after South Africa and the world’s 12th-ranked rate of 14% on repatriated earnings, and a 16% value-added tax exporter of iron ore, in terms of export value. The country (Ministère du Pétrole de l’Energie et des Mines, 2012). also produced modest quantities of cement, crude steel, The revisions to the mining code in 2012 changed the method granite, gypsum, marble, quartz, and salt. Mauritania was not by which royalties are calculated and the area of land that is a significant consumer of minerals (table 1; Société Nationale assigned for exploration permits. Mining royalties range from Industrielle et Minière, 2013c; Banque Centrale de Mauritanie, 1.5% to 6.5% of the price of the final processed mineral product. 2016, p. 107–110; Workman, 2016). The royalty for Group 1 minerals, which include chromium, iron ore, manganese, titanium, and vanadium, is assessed Minerals in the National Economy at 2.5% of the international commodity price. The royalty increases to 3% for iron ore sold at The Steel Index (TSI) price The value of mineral sector activity, which included crude of between $100 and $150 per metric ton and to 3.5% for iron petroleum and metal production, decreased in real terms by ore sold at a price of between $150 and $200 per metric ton. 6.9% in 2015 compared with a revised increase of 6.2% in 2014. The royalty for Group 2 minerals, which include precious and The contribution of the mineral sector to the GDP decreased nonferrous metals, is 3% of the price on the London Metal to 22.9% in 2015 from 29.6% in 2014 and 45.4% in 2011. The Exchange (LME), except for copper (ranges between 3% and value of petroleum sector activity decreased by 47.7% in 2015 5%, depending on the LME price), gold (ranges between 4% compared with a decrease of 19.6% in 2014. The contribution of and 6.5%, depending on the LME price), and platinum-group iron ore mining to the country’s GDP decreased sharply in 2015 elements (4%). The royalty for Group 3 minerals, which to 0.4% from 6.4% in 2014 and 24.1% in 2011. Copper and gold include coal and fuel minerals, is 1.5% of the sale price; Group contributed 3.4% to Mauritania’s GDP in 2015 compared with 4 minerals, which include uranium and other radioactive 3.1% in 2014 and 17% in 2013 (Banque Centrale de Mauritanie, materials, 3.5%; Group 5 minerals, industrial minerals and 2016, p. 107–110). construction materials, 2.5%; and Group 6 minerals (gemstones) The flow of foreign direct investment (FDI) to Mauritania and Group 7 minerals (diamond), 5% and 6%, respectively. continued in 2015 but at a much reduced rate compared with Revisions to the mining law added a 10% tax on all mining the historic surge of 2012. The estimated value of FDI inflow to transactions (such as transferring a license from one company Mauritania in 2015 was $495 million, which was slightly less to another) and made international commodity prices the basis than the $500 million (revised) received in 2014 and 65% less for the royalty calculation. The area of land allocated for each than the $1.4 billion received in 2012. The value of greenfield exploration permit was reduced to 500 square kilometers (km2) FDI projects in Mauritania was zero in 2015 compared with from 1,000 km2 for all minerals except for the areas allocated for $1.3 billion in 2014 (United Nations Conference on Trade and diamond concessions, which remains at 5,000 km2 (Ministère du Development, 2016, p. 197, 211). Pétrole de l’Energie et des Mines, 2012). Government Policies and Programs Production The Ministère du Pétrole de l’Energie et des Mines [Ministry of In 2015, copper production increased by 36% compared Petroleum and Energy and Mining] is responsible for overseeing with that of 2014. Iron ore output decreased, by 17%; crude activity in the mineral fuels industry. The Government approved petroleum, by 12%, and gold, by 10%. Data on mineral several amendments to its hydrocarbon code and mining code production are in table 1. in 2011. The Ministère de l’Industrie et des Mines [Ministry of Industry and Mines] is the Government agency responsible Structure of the Mineral Industry for regulating the country’s mining industry activity. The Direction des Mines et de la Géologie [Department of Mines Almost all the more than 70 local and international companies and Geology] implements the Government’s policies to enhance that were involved in mineral exploration and production in MAURITANIA—2015 [ADVANCE RELEASE] 29.1 Mauritania were privately owned except for Société Nationale Commodity Review Industrielle et Minière (SNIM), which was a majority state- owned mining company (78.35% interest). SNIM operated Metals iron ore mines at Guelb el Rhein, Kedia d’Idjill, M’Haoudat, and Zouerate in northern Mauritania. SNIM also owned and Copper.—The Guelb Moghrein Mine produced 45,001 metric operated a 700-kilometer (km) heavy-haul railway and a tons (t) of copper in 2015 compared with 33,079 t (revised) shipping terminal at the Port of Nouadhibou on the Atlantic in 2014. The increase was due to higher throughput as MCM coast. SNIM subsidiaires included Granites et Arbres de milled 4 Mt of sulfide ore in 2015 compared with 3 Mt in Mauritanie S.A. (GMM), Société Arabe des Industries 2014. The mine was wholly owned and operated by MCM. Métallurgiques S.A. (SAMIA), and Société Arabe du Fer et de The total probable and proven reserves at the Guelb Moghrein l’Acier S.A. (SAFA) (table 2; Société Nationale Industrielle et Mine, which includes high- and low-grade stockpile materials, Minière, 2015c). were estimated to be 31.3 Mt of ore grading 0.92% copper and Société Mauritanienne des Hydrocarbures et de Patrimoine 0.69 gram per metric ton gold. The company planned to produce Minier (SMHPM), which is Mauritania’s national oil company, 40,000 metric tons per year (t/yr) of copper between 2016 maintained a 10% interest in petroleum exploration offshore and 2018 (First Quantum Minerals Ltd., 2016a, p. 17, 21, 40; and onshore concessions in Mauritania, and the remaining 2016b). 90% interest is held by international oil companies (Société OreCorp Mauritania S.A.R.L., which was a subsidiary of Mauritanienne des Hydrocarbures et de Patrimoine Minier, 2015). OreCorp Ltd. of Australia, held two licenses at south Akjoujt 2 Tasiast Mauritanie Ltd. S.A. (a wholly owned subsidiary of to explore for copper, gold, and nickel in a 460-km area. The Kinross Gold Corp. of Canada) and Mauritanian Copper Mines Akjoujt South project lies in the Proterozoic Mauritanide S.A. (MCM) (a wholly owned subsidiary of First Quantum belt and is located 30 km south of the Guelb Moghrein Mine. Minerals Ltd. of Australia) produced gold in 2015. MCM was In 2015, OreCorp Mauritania carried out a diamond drilling the sole producer of copper, as was PETRONAS International program to test for previously defined geophysical targets of Corp. Ltd. (a subsidiary of Petroliam Nasional Berhad of copper-nickel sulfide mineralization (OreCorp Ltd., 2016). Malaysia) for crude petroleum. Two companies produced Gold.—Gold output decreased to 8,618 kilograms (kg) in cement—Ciment de Mauritanie S.A. and Mauritano-Française 2015 from 9,625 kg in 2014. Two mines produced gold in des Ciments S.A. SAMIA was the sole producer of gypsum, Mauritania in 2015—the Guelb Moghrein copper-gold mine Mauritania Minerals Co. S.A. (MMC) produced quartz, and and the Tasiast gold mine. The Guelb Moghrein Mine produced Société Mauritanienne des Industries du Sel (SOMISEL) was 1,991 kg of gold in 2015, which was about 13% more than responsible for salt output (table 2; Mauritania Minerals Co. the 1,522 kg (revised) of gold produced in 2014. The Tasiast S.A., 2014). gold mine was owned and operated by Kinross and located in northwestern Mauritania; it produced 6,813 kg of gold in 2015 Mineral Trade compared with 8,102 kg in 2014, which was a 15.9% decrease. As of yearend 2015, estimates of proven and probable mineral The value of total exports in Mauritania decreased to about reserves at the Tasiast deposit were 255,000 kg (reported as $1.4 billion in 2015 from $1.9 billion in 2014 and about 8.2 million troy ounces).
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