Mauritania: National Industrial and Mining Company (SNIM,
Description SNIM is the second largest African producer of iron ore and a major player in the country's economy. Its representative sales accounted for about 9% of Mauritania's GDP in 2016. The port of Nouadhibou, which allows the company to transport its iron ore, is in fact a key part of the country's economy. However, the depth currently available in the access channelMauritania: Mining, Minerals, and Fuel Resources,Xstrata operates three iron ore projects in Mauritania, namely, the Guelb el Aouj, the Askaf, and the Lebtheinia permits. In order to develop production in 2010, the company planned to invest $6 billion into these projects. In the same year, the global mining company Kinross acquired Red Back Mining Inc.’s Tasiast gold mine for $7.1 billion.Mauritania | Extractive Industries Transparency Initiative,Mauritania is a leading producer of iron ore, copper, gold, silver, oil and gas. Recent discoveries of offshore gas reserves by Kosmos have increased production forecasts.Mauritania and Senegal, with BP and Kosmos Energy, announced in December 2018 that they reached a final investment decision for the Grand Tortue project.