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SABIC to exploit iron ore in Mauritania
Saudi Press Agency Published in Saudi Press Agency on 30 - 07 - 2007

Saudi Basic Industries Corporation (SABIC)announced its intention to enter into a strategic partnership to exploit iron ore mines in Mauritania.
In a statement today, SABIC said it seeks for possessing 34.9 % of the new company due to be formed to produce iron ore in Mauritania, noting that SABIC will invest an amount of $ 262 million to provide its iron and steel factories with iron ores of high quality.
SABIC's Vice President for Minerals Mohammed bin Salih Al-Jabr signed today an initial agreement between SABIC and companies from Mauritania, Australia and Qatar.

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