SNIM's Iron Ore Exports Reached 13.35 Million Tons in 2022 Despite International Challenges

Contributions of SNIM in 2022

22% of the general budget revenues

9% of the gross domestic product

32% of the country's exports

The National Company for Industry and Mines (SNIM) in Mauritania announced that its sales reached 13.35 million tons in 2022, a significant increase from the previous year. The company also reported an improvement in production operations, with rail transportation reaching 12.8 million tons compared to 12.6 million tons in 2021.

SNIM's board of directors praised the company's commercial diversification policy, which enabled it to enter new markets in North Africa and Eastern Europe. Despite these achievements, the company faced challenges due to international conditions resulting from the war in Ukraine and the zero Covid policy in China. These conditions led to a decrease in iron ore prices and an increase in the prices of consumables, spare parts, and fuel, putting pressure on supply sources.

As a result, the company's turnover decreased by 23% compared to the previous year, reaching $1.26 billion. The net result also shrank by 52%, falling to $422.55 million. Despite these challenges, SNIM's board of directors expressed satisfaction with the completion of work on the dredging of the mineral port channel and the progress of works on the Avderek projects and the new shipping line for ships. The board also noted the company's progress in developing joint projects, such as the Al-Awj and Atomai projects.

Driving Mauritania's Energy and Mining Sectors

Furthermore, the company signed memorandums of understanding in the fields of pelletizing and green steel, in addition to studying the transfer of gas from its production sites to Nouadhibou. This is aimed at saving energy, which has long represented an obstacle in the face of investment in iron ore processing industries. The board expressed full support for the company's exploration for gold, copper, and associated minerals in the state of Inchiri, as part of its mineral diversification policy

The company's board of directors also affirmed its constant keenness to take care of the human element, as it is the real capital of the company. It approved a number of incentive measures to support the purchasing power of workers and improve their social conditions. The council noted the support provided by the corporation to the contractors contracting with it, in order to implement the government's decisions related to raising minimum wages, as well as its directives to them on the need to improve the conditions of their workers.

In addition to its business operations, SNIM is committed to social responsibility. The company's charitable arm, SNIM Charity, is active in the fields of education, health, basic services, and local development in the wilayas of Tiris-Zemmour, Adrar, and Dakhlet Nouadhibou. In 2022, SNIM contributed 22% of the general budget revenues, 9% of the gross domestic product, and 32% of the country's exports.

In conclusion, SNIM's iron ore exports reached an impressive 13.35 million tons in 2022, despite international challenges. The company's efforts in commercial diversification, joint projects, and mineral exploration, coupled with its commitment to social responsibility, have enabled it to maintain its position as a major player in the global iron ore market.

Renewable energy

Oil and Gas

Mining Sector

Green Hydrogen