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MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

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World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Our Impact Dropdown Description

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

Projects Dropdown Descriptions

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Mauritania

Tasiast Gold Mine

$300 million
Mining
Project Brief
Active
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Project description

On January 17, 2018, MIGA issued a guarantee of $300 million covering equity and shareholder loan investments by Kinross Gold Corporation (and/or its subsidiaries or affiliates) of Canada into Tasiast Mauritanie Limited S.A. (TMLSA). The investor applied for a MIGA guarantee of up to US $300m for a period of up to 15 years against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract.

The project consists of the expansion and modernization of the Tasiast gold mine located 300 kilometers northwest of the capital city Nouakchott. The investment will be used to complete refurbishments of plant equipment and increasing throughput and processing capacity of the plant resulting in improved operating efficiencies and the lowering of operating costs.

Environmental Categorization

The project is a category A under MIGA’s Policy on Environmental and Social Sustainability. Click here to view the Environmental and Social Review Summary.

Development Impact

This is a significant investment for the both the mining sector and country. Key benefits include revenue generation through taxation and royalties; support to the labor market through sustaining jobs and provision of training to employees; and a demonstration effect for further large investments for the country.

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