Mauritania's SNOM signs cooperation pact with World Bank's IFC to boost mining sector

On Tuesday in Nouakchott, Mauritania’s mining giant Société Nationale Industrielle et Minière (SNIM) and the International Finance Corp (IFC), the private‑sector arm of the World Bank Group, signed a protocol of agreement. The ceremony was chaired by Minister of Economy and Development Abdallahi Ould Souleymane Ould Cheikh Sidiya, who said the deal reflects renewed international confidence in Mauritania’s economic potential and will support the country’s structural transformation and sustainable growth.

The agreement sets out a framework for future cooperation, aiming to strengthen SNIM’s competitiveness, expand value‑addition along the mineral value chain, and promote investment in the sector through projects spanning extraction, processing, transport and infrastructure. IFC representative Olivier Buyoya highlighted Mauritania’s high‑grade iron ore, gold, renewable‑energy and gas resources, emphasizing the role of private‑sector partnerships in creating jobs and enhancing export earnings.