Saudi Arabia and Mauritania are preparing to launch a strategic partnership in iron ore mining, aimed at expanding economic cooperation and boosting investment flows between the two nations, according to media reports. The initiative was agreed following a meeting in Mecca between Saudi Crown Prince Mohammed bin Salman and Mauritanian President Mohamed Ould Cheikh El Ghazouani in June.
Joint venture: Takamul
According to Mauritania’s ambassador to Riyadh, Moktar Ould Dahi, the project will establish Takamul, a joint venture between Mauritania’s state-owned mining company and Saudi Arabia’s Hadeed. Currently in the funding stage, the company will develop an iron ore mine in Mauritania with an annual output capacity of 12-14 million metric tons.
Strengthening trade and logistics
Ambassador Ould Dahi stated that trade between the two nations is expected to accelerate, with plans to improve direct transport links to address logistical barriers caused by distance and the lack of a direct shipping route.
Rising Saudi investments in Mauritania
The ambassador emphasized that Saudi investment in Mauritania has grown steadily, particularly in SMEs across manufacturing industries. Additionally, a joint business council has been formed to strengthen private-sector partnerships and encourage broader economic integration.