The mining and hydrocarbons industries accounted for approximately 75% of Mauritania’s export earnings and 30% of its fiscal revenue in 2013 according to the IMF, with iron ore, gold, petroleum and copper representing the largest shares.
In 2013, Mauritania was Africa’s second largest producer of iron ore, the country’s main mineral export according to the World Bank, which estimates that iron ore production may rise from 12 million tons in 2012 to 18 million tons in 2015.
In 2013, the mining sector accounted for around 25% of GDP according to the Société Nationale Industrielle et Minière (SNIM). The mining sector is expected to grow as several international mining companies are entering the country and export infrastructure is being developed.
Commercial oil reserves have been found offshore, adding to the reserves at the Chinguetti oil field discovered in 2001. Oil production started in February 2006 and Mauritania's crude oil reserves are estimated at around 600 million barrels, although proven reserves are much smaller. The sector is bound to have a significant share in the economy.
EITI implementation in Mauritania is on track. Preparatory activities aimed at the publication of the 2012 Report that conforms to the requirements of the new EITI Standard are on-going.
In June of 2013, Mauritania published its 2011 and 2010 reports. This led to the lifting of the temporary suspension that had been imposed upon the country by the EITI Board for not meeting the deadline of 31 December 2012 for publishing the 2010 EITI Report.