Mauritania Expands Iron Ore Transportation
Date
12/17/2024 11:14:12 PM
(MENAFN- Brazil-Arab News Agency (ANBA))
São Paulo – Mauritania will increase its iron ore transport capacity on its railway line, following the approval of a USD 150 million loan by the African Development bank (AfDB ) to the National Industrial mining Company (SINM). SINM is a company focused on the exploration, research, processing, transportation, and export of iron ore from Mauritania.
According to a news release issued on Tuesday (17) by the AfDB, the loan was approved by the bank's Board of Directors at the end of November. The credit will allow SNIM to implement a logistics capacity expansion program that will double the railway line's capacity by 2030. Overall, the project will require USD 467 million. Up to 36 locomotives and 1,743 wagons will be purchased to transport the production to the Nouadhibou iron ore port.
According to the bank's statement, the investment program also paves the way for the production of higher value-added items by SNIM, such as iron ore pellets, and includes the construction of a photovoltaic solar power plant, in line with the company's strategy to decarbonize its operations.
SNIM has a significant impact on the Mauritanian economy, according to the AfDB. Last year, the company accounted for about 9% of the country's gross domestic product, 14% of public revenues, and 37% of the value of exports. The company is the largest in Mauritania and the second-largest iron ore producer in Africa. SNIM employs 6,750 people.
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Translated by Guilherme Miranda
AfDB
The post Mauritania expands iron ore transportation appeared first on ANBA News Agency .
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