#Mauritanie : The board of directors of the National Industrial and Mining Company (SNIM), the largest company in Mauritania, appointed Hacena ould Ely as Managing Director (ADG). Now a badly shaped company.
Hacena ould Ely replaces Ahmed Salem ould Bashir, who was appointed prime minister at the end of October.
SNIM's new president is an economist through training. He was the general manager of the autonomous port of Nouakchott, known as the Friendship Port (PANPA), until he was appointed to head the mining company.
Also read: Mauritania: Did SNIM actually exceed the crisis?
Hacena ould Ely was also the first Managing Director of the domestic airline Mauritanie Airlines International (MAI). From September 2008 to August 2009, he served as Minister of Fisheries.
According to local media, the new ADG arrives under the control of a company struggling with huge debts of over 250 billion US dollars (MRO).
Therefore, the online news site "Al Akhbar" presents "situation before bankruptcy" when it is said that "lack of competitiveness and lack of resources".
Also read: Mauritania: Moroccan ambassador seeks partnership path between SNIM and Moroccan companies
Historically, SNIM provides more than a third of the state budget. However, intake has dropped significantly this year.
The Minister of Economy, Moctar ould Diaye, explains this remarkable decline in global iron ore prices.
SNIM is the largest employer in Mauritania and has more than 6,000 agents.