Mauritania’s national Iron ore mining company, SNIM aims to produce 13 MnT in 2014, which is almost same as last year, as reported by Reuters.
Production from the mine in the Northern desert town of Zouerate hit 6.7 MnT in the first 6 months of this year; rise by 8.5% from the same stage in 2013, the company said in a statement.
Mauritania holds a 78.35% stake in SNIM and last year exports from the project accounted for some 17% of government revenue in the desert nation.
Europe, which is a major buyer of Mauritanian Iron ore, has cut down imports owing to economy slowdown. As a result, SNIM has developed a new product called Tazadit Fines (TZFC), which has slightly higher silica content.
Recently, JSW Steel, India’s largest private steel maker, had imported 148,000 MT of Iron ore from Mauritanian miner at Krishanapatman in 3rd week of July, 2014. Deal was heard to be settled at USD 86-88/MT CFR India for grade 63%+ Fe.
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