Mauritania has awarded five gold exploration permits to Canadian mining firm Montage Gold, marking a strategic push to diversify its mining sector as output declines at its flagship Tasiast mine. The development, announced in April 2026, signals renewed efforts by the government to attract foreign investment and expand gold production capacity, as reported by Business Insider Africa.
The move comes as production at the Tasiast mine, operated by Canada’s Kinross Gold, continues to weaken due to a transition to lower-grade ore. Output fell by about 23 percent in 2025 and is expected to stabilize around 500,000 ounces in 2026, with no return to peak levels anticipated before 2028, highlighting structural pressures in the country’s dominant gold asset.
By granting new exploration licences, Mauritanian authorities aim to reduce reliance on a single mine that has historically accounted for a significant share of extractive revenues. Officials are positioning the country as an attractive destination for mining investment, although new discoveries and production sites could take several years to develop.
The entry of Montage Gold reflects a broader trend of African resource-rich nations seeking to diversify output and strengthen long-term revenue streams. As legacy mines mature, new exploration activity will be critical to sustaining production levels and ensuring the continued contribution of the mining sector to national economic growth.
