At its session on 29 April 2025 in Nouakchott, the Board of Directors of the National Industrial and Mining Company (SNIM) commended the company’s 2024 performance, marked by a new sales record of 14.226 million tonnes and operational improvements across the production chain. Notable achievements included historic levels of earthmoving and tipping, entry into new markets—especially in the Middle East—and expansion of the customer base.
Despite a revenue drop from $1.37 billion in 2023 to $1.15 billion in 2024 due to falling iron ore prices and inflationary pressures, net income reached $268 million. The Board also highlighted infrastructure milestones, including a new port loading line, a 12MW solar plant, and progress on the F’dérick project and 30MW thermal plant.
The Board welcomed developments in the El-Aouj and Atomai partnerships, the ongoing implementation of the Corporate Strategic Programme (PSE), and compliance with new public enterprise laws. It approved new housing initiatives—starting with 529 units—and reaffirmed support for employee welfare and the SNIM Foundation’s community impact. SNIM accounted for 11% of national budget revenues, 6% of GDP, and 29% of exports in 2024.
