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Madagascar: Ambatovy mine project is expected to generate more than a billion dollars as revenue per year




The mining (nickel and cobalt) of Ambatovy project launched in 2009 and its factory of mineral processing in the East of Madagascar with Canadian, Korean and Japanese shareholders should produce more than one billion dollars annually, as recently recalled by Mark Planondon director general of the Ambatovy complex.
 
"On its own, nickel is able to permanently change the structure of exports of Madagascar and will even achieve a trade balance close to equilibrium" has also put forward Louis Roland Gosselin vice-president of Ambatovy, as reported by the Midi Madagasikara newspaper.
 
With annual production expected to reach 60,000 tons of refined nickel, Madagascar wants to play in the big league and even belong to the Top 10 of the first exporting alongside China, Japan, Russia, Canada and Australia.
 
For the Minister of Strategic Resources, Lalaharisaina Joeli Valerian, "the success of Ambatovy help promote and encourage the initiation of other major mining projects in the pipeline and the smooth running of this project is a strong signal for investors and all the technical and financial partners of the country."



Antso Rajaona


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