Plans to develop high grade iron ore deposits and the associated mining infrastructure in Mauritania began in 1952 with the formation of the privately owned Mauritanian Iron Mines Company (Société Anonyme des Mines de Fer de Mauritanie - MIFERMA). MIFERMA was owned by French, British, Italian, and West German steel interests. With support from the World Bank and the French and Mauritanian governments, MIFERMA shipped its first iron ore to European customers in 1963.

In 1974, the Mauritanian Government restructured the mining industry as a part of its plan to establish economic independence and Société Nationale Industrielle et Miniere (SNIM) was formed as the national iron ore company. The European owners of MIFERMA subsequently transferred their stakes in MIFERMA to SNIM, whilst maintaining commercial relationships with SNIM.

Today, SNIM is 78% owned by the Mauritanian Government, with the remaining ownership held by five Arab financial and mining organisations. SNIM's operations accounted for more than 40% of Mauritania's export earnings in 2005 and provide local employment for many Mauritanians involved in the mining industry and associated services and infrastructure. SNIM is a strategic supplier to the European steel industry and is well known to major lending institutions such as the World Bank and the European Investment Bank.

SNIM is currently the seventh largest supplier of iron ore to the international traded market. It exports 12 Mtpa of iron ore from three mining centres in the Zouérate region of Northern Mauritania. The ore is transported to the port at Nouadhibou on the Atlantic coast by a 700 km heavy haul rail network that is owned and operated by SNIM. SNIM also owns and operates the ship loading and storage facilities near Nouadhibou which are capable of handling vessels of up to 160,000 dwt. SNIM has secured recent funding for a second loading wharf to accommodate 180,000 dwt vessels.

SNIM are members of the Arab Iron and Steel Union (AISU), a key industry forum that promotes the strengthening of relations among Arab Steel companies, with recent focus on the importance of exploiting the iron ore from Arab countries, including Mauritania.