Afin d' increase its logistical capacity and strengthen Mauritania's mining sector, the Board of Directors of the African Development Bank Group approved a $150 million senior loan to the National Industrial and Mining Corporation

The ADB loan will enable to implement a $467 million logistics capacity expansion program in order to double the transport capacity of its iron ore railway by 2030. This program paves the way for the production of higher value-added products, such as iron ore pellets. According to Solomon Quaynor, Vice President of the Group in Banque africaine de développement charge of Private Sector, Infrastructure and Industrialization, “this program is a key precursor for the future growth of SNIM as a producer of high-quality iron ore and will facilitate its downstream integration. It represents a significant advance for the Mauritanian mining sector and will allow the creation of a genuine regional industrial hub in the medium term. The project is also in a position to bring significant social and economic benefits, including the empowerment of communities, the creation of jobs, especially for young people and women, and the establishment of new regional partnerships.”