Madar (Nouakchott) - The Mauritanian government expects budget revenue from the mining sector to reach 32.13 billion MRU in 2027, up 69.2% on the 2026 finance law, or 21.1% of total state revenue, according to an annex to the initial 2027 finance bill published on the Ministry of Finance website on Sunday 8 November 2026.
According to the annual report on the implementation of natural resource agreements, this would comprise 15.42 billion MRU in tax revenue, 2.5 times the 2026 finance law forecast (6.14 billion), and 16.71 billion in non-tax revenue such as royalties, dividends and fees, up 30%. The report says the tax forecast assumes that higher gold prices feed fully into corporate income tax paid by gold miners.
In 2025, mining budget revenue reached 14.66 billion MRU, up 6.5% from 13.76 billion in 2024, of which 6.26 billion was tax revenue and 8.40 billion non-tax revenue, or about 13% of state revenue. The 2026 finance law puts it at 18.99 billion MRU.
On production, the report cites record iron ore sales by state miner SNIM of 14.7 million tonnes in 2025 (+3.3%) despite lower international iron prices, while gold output at Tasiast fell 19.1% to 503,429 ounces because of lower grades in the mine plan, a decline "largely offset in value by the sharp rise in gold prices". SNIM dividends paid to the state fell to 3.75 billion MRU from 4.60 billion in 2024.
For fisheries, the finance bill projects 10.10 billion MRU in revenue in 2027, or 6.6% of state revenue, compared with 7.86 billion collected in 2025. The report describes the expiry of the fisheries protocol with the European Union in November 2026 as "the main factor of uncertainty" for 2027 fishing revenue.
In hydrocarbons, the bill projects 3.65 billion MRU in non-tax revenue and 3 billion in tax revenue in 2027, plus a 4 billion MRU withdrawal from the National Hydrocarbon Revenue Fund (FNRH) for the budget, against 2 billion in 2025. The state's share from the Greater Tortue Ahmeyim (GTA) gas project amounted to $25.14 million in 2025, its first year of production, paid into the fund.
The report is annexed to the finance bill under Article 42 of the organic law on finance laws, which requires the government to set out all tax and non-tax revenue the state derives from exploiting and selling its natural resources.
