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Report Date : |
18.05.2012 |
IDENTIFICATION DETAILS
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Name : |
TASIAST MAURITANIE LIMITED SA |
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Registered Office : |
ZRC 420 ‑ BP 5051, |
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Country : |
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Date of Incorporation : |
19.01.2004 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Mining of other non‑ferrous
metal ores |
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No. of Employees : |
724 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Mauritania |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
TASIAST MAURITANIE
LIMITED SA
Payment Record: UNDETERMINED
This rating is based on available data. In the event of
additional
information
a possibility for a different rating applies.
Registration Number: N/A
Registration Date: 19/01/2004
Legal Form: SOCIETE
ANONYME
Latest Financials: N/A
Nominal Capital: N/A
Issued Capital: N/A
Turnover: 78,000,000
US Dollars
Net Profit: N/A
Net Worth: N/A
Investigation Number: 157625
Company Name: TASIAST
MAURITANIE LTD S.A.
Country: MM
Street Name: DISTRICT
ZRA 50 NOUAKCHOTT, BP 5051
City Code:
Company Name: TASIAST
MAURITANIE LIMITED SA
Headquarter Address: ZRC 420 ‑
BP 5051,
Nouakchott,
Mauritania
Telephone: +2224525
4824
Fax: +2224529
3895
E‑Mail: infotasiast@kinross.com
Web Site: www.kinrosstasiast.mr
Company was originally started on 2008
Current Legal Form: SOCIETE
ANONYME
Registration Address: ZRC 420 ‑
BP 5051,
Nouakchott
Registration Date: 19/01/2004
Year/Date Company Established: 2008
Capital is NOT disclosed.
Parent Company: KINROSS
GOLD CORPORATION,
25 York Street, 17th Floor,
Toronto,
Canada
% Shares Held: 100.00%
Name: Mr
Melainine Ould Tomy
Position within the company: Joint General Director
Country of Birth: Mauritania
Nationality: Mauritanian
Can fluently speak: Arabic,
French, English & Spanish
Name: Mr Haroun
Ould Ragel
Position within the company: Administration Director
Country of Birth: Mauritania
Nationality: Mauritanian
Can fluently speak: Arabic,
French & English
Name: Mr Seyid
Ould Seyid
Position within the company: Public relations Officer
Additional Information: Mail : seyid.seyid@kinross.com
Country of Birth: Mauritania
Nationality: Mauritanian
Can fluently speak: Arabic,
French & English
NACE Codes: 0729 Mining
of other non‑ferrous metal ores
The Tasiast mine is an open pit operation located in north‑western Mauritania and is approximately 300 kilometers north of the capital Nouakchott and 162 kilometers east‑southeast of the port city of Nouadhibou.
Kinross acquired its 100% interest in the Tasiast gold mine on September 17, 2010 upon completing its acquisition of Red Back Mining Inc.
Tasiast began commercial operations in 2008. Mining operations consist of conventional open pit mining methods. High grade ore processing is based on three stage crushing, ball milling, and a carbon‑in‑leach circuit. Lower grade oxide ore is processed in a run‑of‑mine heap leach facility.
Employees Company
Employs: 724
HQ Premises Operates
from: Offices
Location: Central
Business Area
Branches Trarza,
300 Km North of Nouakchott,
Tasiast,
Mauritania
Description of branch: Mine
Trading & Selling
Territory: 100%
International
Subsidiaries
Affiliates
Information on Related Companies is not
available/applicable
Information on Bankers is not
available/applicable
Source: www.kinross.com
Figures are: Official
Figures
Currency: US Dollars
Months Sales Figures Sales Gross
Profit/Loss Net Profit/Loss
12 31/12/2010 78,000,000
Subject's payments reported to
be: UNDETERMINED
Date: 14/05/2012
Name/Title: Mr.
Seyid Ould Seyid Public relations Officer
Comment: We have sent a fax/e‑mail/questionnaire
however no reply has
been
received as of yet.
Reporter Comment Date: 16/05/2012
Reporter Comment: In the interview conducted
with the company, they asked us to send an email to Mr. Seyid Ould Seyid,
Public Relations Officer, however there
is no reply was received as of yet.
All the above information was obtained
from the company web site.
Local Reputation: The
company being investigated is considered by local reporters to be
a
Medium Trade Risk.
Owner/Shareholders Comments: The owners / shareholders do
not have an active role in the running of
the
business.
Age of Business: The
company is long established in the local market.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.86.61 |
|
Euro |
1 |
Rs.68.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.