SNIM REHAB

closed

SNIM's (Societe Nationale Industrielle et Miniere) increasing production costs and debt service, both due to the now completed Guelbs Project, require tight financial management in the coming years. The SNIM Rehabilitation Project's main objective is to secure the medium-term financial and economic viability of SNIM, one of the most valuable assets to the Mauritanian economy. The project will consolidate and further advance the ongoing action program for managerial and technical improvements and will in particular: (i) help SNIM continue to improve its management and reduce its production costs; and (ii) assist with necessary financial restructuring of SNIM by transforming part of its short-term debt/overdraft into long-term debt. The project consists of: (i) measures by SNIM aimed at improvements and cost reductions in management, operations, procurement and investments, personnel, overhead costs and cash management; and (ii) purchase of equipment and supplies, and provision of training and technical assistance necessary for the implementation of these measures.