Mauritania to receive US $150M boost for mining sector
Mauritania is set to receive a grant of $150 million from the African Development Bank Group to to support Mauritania’s Société Nationale Industrielle et Minière (SNIM) in enhancing its logistics capacity and advancing its role in the global iron ore market.
The investment will enable the company to produce higher value-added products, such as iron ore pellets, and includes plans to construct a 12 MW photovoltaic solar power plant as part of decarbonizing efforts. There will be also integration of climate adaptation measures with support from the Global Center on Adaptation.
SNIM
SNIM is pivotal to Mauritania’s economy, contributing: 9% of GDP, 14% of government revenue, 37% of export value. The project is expected to generate more employment opportunities, with a focus on youth and women empowerment. It will enhance Mauritania’s potential as a regional industrial hub and strengthens intra-African trade, particularly with North Africa.
Solomon Quaynor, Vice President of the African Development Bank Group emphasized the program as a catalyst for SNIM’s growth as a producer of high-quality iron ore and its downstream integration potential. He highlighted the social and economic benefits, including job creation and regional collaboration.
Mohamed Vall Mohamed Telmidy, CEO of SNIM also acknowledged the importance of the AfDB’s steadfast support in bringing SNIM’s production projects closer to implementation. He pointed out that the investment represents a strategic push to blolster Mauritania’s mining sector, aligning with global sustainability standards. It also position SNIM as a leader in Africa’s industrial transformation, contributing to economic diversification and regional trade.
