According to media reports, Saudi Arabia and Mauritania are preparing to launch a strategic partnership in the field of iron ore mining aimed at expanding economic cooperation and increasing investment flows between the two countries. The initiative was agreed upon after 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 Moktar Ould Dahi, the Mauritanian ambassador to Riyadh, the Takamul joint venture between Mauritania's state-owned mining company and Saudi Arabia's Hadeed will be established as part of the project. Currently under financing, the company will develop an iron ore mine in Mauritania with an annual production capacity of 12-14 million metric tons.
Strengthening trade and logistics
Ambassador Ould Dahi said that trade between the two countries is expected to accelerate, with plans to improve direct transport links to eliminate logistical barriers caused by distance and the lack of a direct shipping route.
Saudi Arabia's investment growth in Mauritania
The Ambassador stressed that Saudi Arabia's investments in Mauritania are steadily increasing, especially in SMEs in manufacturing industries. In addition, a joint business council was formed to strengthen partnerships with the private sector and encourage broader economic integration.
