Mauritania joins gold producing nations - Wednesday 25th July 2007

A gold mine has opened in Mauritania, meaning this country has become the world's latest gold producing nation.

The opening was marked by an official event attended by Mauritania's president, Sidi Mohamed Ould Cheikh Abdellahi, Mineweb reports.

The $83 million mine, named Tasiast, is located 300 kilometres north of the capital city Nouakchott in the El Ghaicha region of the West African country, and will produce more than three tonnes of gold per year for 11 years.

It is currently owned by Rio Narcea Gold Mines but will soon be acquired by Red Back Mining, part of Lundin Mining.

The area was first explored between 1993 and 1996 as part of the European Development Fund Project, and then taken over by Normandy LaSource.

Mauritania's oil and mining minister said the project would provide jobs for around 400 direct employees.

Lundin Mining also has mines in Portugal, Sweden and Ireland.
Goldbug, 25 Jul '07

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