Re-structuring of Sofinor

Established in September 1990, Sofinor is a semi-public company and the economic tool which has enabled the Northern Province to repurchase SMSP Company. Sofinor is owned by the Northern Province with 85% shares while 15% are owned by four SAEML including Sud minier, côte océanienne, Grand Nord et espaces de l’Ouest. In December 2013, the Provincial Councilors voted in favor of a reorganization of Sofinor, which is now dedicated solely to mining and metallurgy pole. This would enable the Northern Province to maximize the economic returns and wealth generated by mining operations. Meanwhile, a new entity was set up, SAEML Nord Avenir, has to be in charge of the economic diversification pole and ensuring the support of eventual economic development initiatives and process.