SNIM - Société Nationale Industrielle et Minière (Mauritania)

Société Nationale Industrielle ET Minière was founded in 1978, and it is first producer of iron ore concentrates in Africa. The Company extracts iron ore mines and concentrations, in addition to developing mineral resources; through exploration, exploitation and trade.

 SNIM continued to develop methods for searching and exploiting mineral and petroleum products. The Company has also established, owned, and managed iron and steel factories, chemical and petrochemical industries, and all facilities related to the extraction and processing of these materials as well as their trading and marketing. In addition to any industrial, commercial, financial or real-estate enterprises that serve the Company’s objectives and are related to its business in a direct or indirect way.

 SNIM exploits two types of iron ore from Tiris province’s mines in northern Mauritania; one is Magnetite (Black Iron Oxides) and the other is Hematite (Iron (III) Oxide).

 In 1979 a contribution of 68,979 shares worth 1.438 billion Mauritania Ouguiyas, which is equivalent to 8.591 million Kuwaiti Dinars, including the premium was made into the company. Its current capital worth 182.7 billion Mauritania Ouguiyas; equivalent to about 606 million US Dollars spread over 18.27 million shares, with each share values at 10 thousand Mauritania Ouguiyas.