The National Industrial and Mining Company (SNIM) which is exploiting iron deposits in the in Mauritanian town of Zouerate has realized a turnover of over 415 billion ouguiya, i.e. $1 billion.
The SNIM in a statement said the money represented an improvement on last year’s turnovers, with 11.02 million tons of iron ore sold in 2012.
The SNIM’s operations for the year 2011 registered a “historic record of mineral excavations of +105 million tons, i.e. 21 percent compared to 2010,” according to a statement released to APA in Nouakchott on Sunday.
“With a rising output,” the SNIM “has forecasted, for this current year, an increase of up to 14 percent in excavations, representing 121 million tons compared to 2011, with sales forecast of up to 11.8 million tons,” the statement said.
The statement also quoted the executive manager of the SNIM, Mohamed Abdellahi Ould Oudaâ as saying “the year 2012 must not only be dedicated to the quality of products and services, but high priority must also be given to a rational management of the company’s resources as well as cost of output.”
The SNIM, which is now implementing a large-scale Development and Modernization Programme (PDM), has adopted a new development strategy framework targeting, in the middle-term, a commercial production of 25 million tons by 2018, while it targets a threshold of 18 million tons by 2014.
Source African Press Agency
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