PRESS RELEASE
 

The National Industrial and Mining Company (SNIM) and the International Finance Corporation (IFC), a member of the World Bank Group, signed a Memorandum of Understanding (MoU) in Nouakchott on Tuesday, 14 July 2026, establishing a framework for cooperation to support the implementation of SNIM's 2024-2045 Development Strategy and promote the sustainable development of Mauritania's mining sector.
The signing ceremony was attended by Mr. Abdallah Ould Souleymane Ould Cheikh Sidiya, Minister of Economy and Finance, Mr. Dy Ould Zein, Minister of Mines and Industry, Mr. Ismail Ould Bedde Ould Cheikh Sidiya, Chairman of the Board of Directors of SNIM, representatives of the World Bank Group, and senior executives from SNIM and IFC.
On this occasion, SNIM's Chief Executive Officer, Mr. Mohamed Vall Mohamed Telmidi, welcomed IFC's continued confidence in the Company and emphasized that this partnership reflects a shared vision focused on the development of strategic mining projects, the strengthening of infrastructure, the enhancement of mineral resources, and the development of human capital.
Mr. Olivier Buyoya, IFC Regional Director, also highlighted the strategic significance of the Memorandum of Understanding, stating: "This Memorandum of Understanding marks a new chapter in our partnership with SNIM. It reflects our commitment to bringing IFC's expertise to the preparation of transformative projects, facilitating their implementation, and supporting the development of a more competitive, sustainable, and value-creating mining sector for Mauritania's economy."
The Memorandum of Understanding covers project preparation and development, strategic advisory services, financing mobilization, and the promotion of international best practices, with the objective of strengthening the maturity and bankability of SNIM's priority projects.
Beyond its direct benefits for SNIM, this cooperation will help enhance the attractiveness of Mauritania's mining sector while supporting the country's ambitions in industrialization, energy transition, skilled job creation, and sustainable development.
Through this partnership, SNIM reaffirms its commitment to working with leading international partners to accelerate the implementation of its development strategy and further strengthen its contribution to Mauritania's economic development.