The Mauritanian mining sector is dominated by the production of iron ore and gold. While iron ore production is entrusted to the Société Nationale Industrielle et Minière (SNIM), gold production is currently carried out by the Tasiast gold mine, owned 100% by the Canadian company Kinross Gold.
Kinross Gold has produced 1.96 million gold equivalent ounces in 2022, an increase of 35% year-on-year. This was announced this Wednesday, February 15, by the Canadian company, which has indicated that this increase is due "largely" to the performance of its Tasiast gold mine, in Mauritania, where production has gone from 170,502 ounces in 2021 to 538,591 ounces last year.
It should be noted that this exceptional increase in production at Tasiast follows an equally unprecedented decline in production in 2021. Due to a fire that caused the suspension of milling operations at the mine towards the end of the second quarter of 2021, Kinross saw its production drop a 138% compared to 2020.
It should be noted that Kinross' total gold production in 2022 was slightly lower year-on-year, taking into account the 2021 contribution from its Russian gold mines and its Ghanaian Chirano gold mine, all of which were divested between June and August 2022. In 2023, Kinross aims to produce 2.1 million gold equivalent ounces.
Gold is one of Mauritania's two main mining exports, along with iron ore. According to 2021 EITI data, the mining sector represents 22% of GDP and 73% of exports.