In December 2024, the African Investment Market event, hosted by the African Development Bank Group in Rabat, Morocco, featured an engaging presentation by Takamul Company on the opening day. Takamul is jointly owned by Société Nationale Industrielle et Minière (SNIM) and Saudi Iron and Steel Company (HADEED).
Takamul’s General Manager, Abdullah Ould Ahmed, presented an overview of the Atomai project, detailing its development stages, technical specifications, and economic potential. The presentation highlighted the project’s progress, achievements, and future goals. Takamul is actively seeking investment to support the Atomai project, which aims to produce 10 million tonnes of iron pellets annually.
The presentation was attended by several high-profile figures, including the Mauritanian Ambassador to Rabat, SNIM’s CEO and Board Member Mohamed Fall Ould Telmeidi, HADEED’s representative and Takamul Board Member Dr. Othman Al-Maliki, African Development Bank President Dr. Akinwumi Adesina, and Mohamed Salem Ould Nani, Director General of Finance and Economic Cooperation at the Ministry of Economy and Finance.
SNIM, Africa’s second-largest iron ore producer, plays a critical role in Mauritania’s economy. With annual sales exceeding 14 million tonnes of iron ore and a turnover of $1.37 billion in 2023, the company contributed 37% of Mauritania’s exports, 14% to the state budget, and 9% to the country’s GDP.
The Atomai project represents a significant opportunity for growth in the iron and steel industry, with Takamul leveraging platforms like the African Investment Market to attract strategic investors.
