With the world changing at a faster pace than anyone predicted, nations that have long been overlooked are now garnering global attention. One such country in the international spotlight now is Mauritania—a mineral-rich country on the west coast of Africa, most of whose landmass consists of the Sahara Desert.
With a population of around 4.5 million people and a gross domestic product (GDP) of just over $11bn, Mauritania is one of the world’s poorest countries, despite also being one of its largest, spanning over one million square kilometres. Interestingly, it has also become a focal point for competing regional and global powers.
The International Monetary Fund (IMF) forecasts that Mauritania’s economic growth will surpass that of the North African region, at 5% this year. This is driven by revenues from mining—particularly gold, iron, copper, and silver—and gas.
The country is set to gain a new income stream from the BirAllah gas field, which lies deep in Mauritanian waters. Some estimate its reserves at 80tn cubic feet and hope it could yield 10 million tonnes of liquified natural gas (LNG) annually.
That would build on the Greater Tortue Ahmeyim (GTA) gas basin, shared with Senegal, about 40km away from BirAllah in the Atlantic Ocean. GTA, which is run in partnership with the British firm BP, is thought to contain 15tn cubic feet of gas.
BP asked for additional time to assess the feasibility of developing BirAllah, which is a monumental 2,800 metres below sea-level, but the Mauritanian government decided to end the contract in May 2024.
Resource rich
On land, there is wealth to be mined. In 2022, Mauritania mined 13 million tonnes of iron ore, according to the Extractive Industries Transparency Index. This was more than Algeria, Egypt, and Tunisia combined, ranking it 16th worldwide. In 2023, gold production soared to 620,000 ounces, while iron ore shot up to 14 million tonnes.
The African Development Bank described Mauritania as “a treasure trove of untapped mineral wealth,” adding: “With several billion tonnes of iron ore deposits, the country is the second-largest producer of this important mineral in Africa.”
These resources are expected to drive a steady increase in national income over the next three decades. According to Bloomberg, new revenues from energy and minerals are projected to add around $2.6bn, helping to alleviate poverty and accelerate sustainable local development.
Mauritania's economy grew by 6.5% in 2023 but slowed to 4.6% in 2024 due to delays in energy resource exploitation and the adverse effects of climate change on agricultural production, often referred to as a "climate shock".
However, the country stands to benefit from intensifying global competition over certain minerals, which account for 40% of its exports. The World Bank predicts growth of 7.5-7.8% in 2026, driven by improved export revenues.
Mauritania is not the only African nation experiencing high growth rates. Côte d'Ivoire, Uganda, Senegal, Guinea, Rwanda and other Great Lakes countries are similarly profiting from the increasing demand for minerals like lithium, manganese, iron, copper, silver, diamonds, and cobalt.