Release date: 13 October 2009
Promoter – Financial Intermediary
Société Nationale Industrielle et Minière (SNIM)
Location
Description
Construction of a new iron ore enrichment plant with a capacity of 4m t/year, extension of an existing mine and modernisation and extension of the ancillary facilities.
Objectives
The project will enable SNIM to increase its iron ore concentrate production capacity, thereby helping it to consolidate its position on the world market.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 75 million
Environmental aspects
An environmental and social impact assessment and a number of supplementary studies were conducted. The key impacts were properly identified and addressed. These concern water supply, air quality and the health of workers. Mitigating measures are set out in the respective management plans. The project's residual impact is therefore considered acceptable by the Bank.
Procurement
Operating on the highly competitive global iron ore market, SNIM is subject to private sector procurement rules. The promoter applies procedures that comply with the Bank’s Guide to Procurement and are considered to be satisfactory by the EIB.
Status
Signed - 1/12/2009
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).