Mauritania: SNIM doubles its profit in 2020

The flagship of the Mauritanian economy, the Industrial Mining Company (SNIM) made a profit of 579 million USD in 2020, against 288 million USD in 2019. This is what emerges from a note published a few days ago by the company .

For its part, turnover stood at 1.2 billion USD, up 39% from 2019 (880 million USD). This improvement will have enabled SNIM to improve its contribution to the Mauritanian economy. In 2020, 10% of the Mauritanian state’s budget revenue comes from the sale of iron ore from the company, which alone provided 43% of the country’s exports.

Created in 1974, SNIM is 78.35% state-controlled, and specializes in operating iron mines in the Zouerate region.

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