Mauritania’s state-owned National Industrial and Mining Company (SNIM) and the World Bank Group’s International Finance Corporation signed a memorandum of understanding in Nouakchott on July 14, SNIM said. The agreement establishes a cooperation framework to support implementation of the company’s 2024–2045 development strategy and the sustainable development of Mauritania’s mining sector. Government ministers, SNIM directors and IFC representatives attended the signing, according to the company’s release.

The memorandum covers preparation and development of projects, strategic advice, mobilization of financing and the sharing of international practices. SNIM said these activities are intended to make priority projects more mature and bankable, while supporting infrastructure, mineral-resource development and skills. The release does not name specific projects, disclose financing commitments or set construction dates. It describes advisory and project-development cooperation, rather than a final investment approval. The companies say the arrangement is also intended to support industrialization, energy transition, skilled employment and sustainable development in Mauritania.