SteelOrbis Shanghai
On August 20, Chinese iron ore trading company China Minmetals Corporation and Mauritania's state-owned iron ore supplier Mauritanian National Industry and Mining Company (SNIM) signed a seven-year iron ore supply contract in the Mauritanian city of Nouakchott. According to this contract, beginning from 2008 SNIM will supply 1.5 million tons of refined iron ore to China Minmetals Corporation every year. This figure accounts for 21 percent of SNIM's production.