Mauritania's Biggest Companies
Mauritania had many products that are considered dominant forces in their economy. These include, petroleum, fish, iron ore, copper, salt and gold. Some of the biggest companies located in Mauritania deal in these products. One of the biggest petroleum companies in Mauritania is Petronas. This company is government owned and is one of the biggest contenders in the oil field in the area. Along with being one of the biggest companies in the area, it was also ranked in the top 500 companies in the world, by Fortune magazine. In addition, it is the most profitable company throughout all of Asia, and is ranked number thirteen in relation to world wide profit earnings. The company is involved in every aspect of oil, drilling, refining and shipping, as well as being involved in other areas such as automotive investment and investing in property. In regard to foreign interest in the petroleum field of Mauritania, BP has expressed interest in the last few years, as well as many other big name companies throughout the world. China has become a dominant force in the foreign market in this area.
The biggest company in regard to fish is the Mauritanian Fish Industries, or IMAPEC for short. This was originally a Spanish company in the area, however in the 1980s the Mauritanian government bought of half of the company, making the government having a high stake in the company. This company does it all in regard to fish, including catching, salting, drying, canning and freezing. The majority of exports of fish come from this company, despite tougher regulations being placed on the fishing industry by the government. It is because of these regulations that not many foreign companies are interested in becoming partners with the many fishing companies found throughout the area.
The government owned Societe Nationale Industrielle et Minere (SNIM) is the largest exporter of iron ore in Mauritania. However, in recent years the export of iron ore has subsided, but SNIM still contributes a huge number of profit that the area receives. In order to make up for this loss, Mauritania is looking for foreign investors into the iron ore industry, namely this big company.
The Tasiast Mauritania Ltd firm is considered to be one of the biggest and still growing companies in regard to the gold industry. This firm is owned by a Canadian company, Red Back Mining. In 2009 alone, the firm produced 158,657 ounces of gold for the area, and plans to make this number even bigger by the end of 2010 are in place. And this goal will put Mauritania in the leagues with those bigger areas that produce gold on a much higher scale.
For the past few years, Mauritania has suffered a bit when it came to making a large profit for their economy. This was due to military take over of the government. However, after the new government has been put in place, these big companies are once again flourishing and foreign investors are taking note, as the area becomes one of interest for many big name oil companies and gold companies.