President of Republic Lays Foundation Stone for F’derick Mining Deposit Development Project

The President of the Republic, His Excellency Mr. Mohamed Ould Cheikh El Ghazouani, supervised on Sunday in Zouerate, as part of the celebrations commemorating the 63rd anniversary of National Independence Day, the laying of the foundation stone for the F’Dérick mining deposit development project.

This project will increase the production of the National Industrial and Mining Company (SNIM) by two million tons of iron ore annually, diversify the sources of exploitation of the ore, and strengthen the company’s position among the producers of iron ores.

The total cost of the project, which is expected to be completed within 24 months, is $186.8 million, funded by SNIM.