Emirates Steel explores JV option with Mauritanian mining company SNIM – The National

Emirates Steel explores JV option with Mauritanian mining company SNIM – The National

Emirates Steel, one of the UAE’s largest non-oil companies, has signed a preliminary agreement with Mauritania’s mining company Société Nationale Industrielle Et Minière (SNIM) to potentially create a joint venture company to produce iron oxide pellets, the primary feedstock required for the production of steel.

The company, part of Abu Dhabi Securities Exchange-listed Arkan Building Materials, said on Tuesday that the agreement is for "18 months", without divulging details.

“Increasing the production of quality metals and materials will support national industries and foster a vibrant export hub that will further strengthen our presence in the 50 countries around the world that import Emirate Steel products,” Saeed Al Remeithi, group chief executive of Arkan and chief executive of Emirates Steel, said.