Available in French.
Mauritania’s state-owned mining corporation the Société Nationale Industriale et Minière de Mauritanie (SNIM) has reopened the Fdérick iron ore mine. SNIM believes it now has adequate financial resources to exploit the huge iron ore deposits independently and cost-effectively.
In 2018, SNIM completed a study that estimated the mine’s reserves to be between 30 and 40 million metric tons of ore with a 60% iron content.
The anticipated manufacturing cost is $20 per ton, making it very viable in a market where the price per ton surpasses $100.
The decision to reopen puts an end to an almost four-year-long debate. An agreement had been initially signed in May 2019 between the Mauritanian Ministry of Economy and Finance and the Australian company BCM Group whereby a joint venture would exploit the 30-million-ton iron ore deposit. However, SNIM will now undertake the project independently, as the company holds the requisite technical and personnel resources to operate the mine.