Bloomberg News

Mauritania’s Profit From Mining Reached $375 Million Last Year

May 21, 2012

Mining in Mauritania earned the country $375 million last year, including $281 million from sales of iron ore, Oil, Energy and Mines Minister Taleb Ould Abdivall said in an interview yesterday on state-owned television.

Mauritania granted seven oil-exploration licenses which generated $30 million after changes to the country’s oil code were made at the end of 2011, he said.

Production at the offshore Chinguitt oil field is 8,000 barrels to 9,000 barrels a day and it has potential of 120 million tons during its life span, the minister said.

To contact the reporter on this story: Oudaa Marouf in Nouakchott at ebowers1@bloomberg.net

To contact the editor responsible for this story: Emily Bowers at ebowers1@bloomberg.net


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus