AKO General Discussion, page-555

Can Madagascar be the next big move?

Rio Tinto run one of the biggest Ilmenite mines in the world in Madagascar with its QMM mine, structured as a joint venture between Rio Tinto and the Malagasy government. Mutual collaboration and political stability has allowed Rio Tinto to operate smoothly during the last decade. The company recentlyrenewed its termswith the Malagasy government, led by president Andry Rajoelina, providing Rio Tinto with the right prerequisites to continue its operations in the country.

QMM is a win-win for Rio Tinto and Madagascar, where the Malagasy people have the opportunity to benefit from its vast natural resources, and the Malagasy government and Rio Tinto are now working together on a 109-kilometre rehabilitation project of the National Road 13 (RN13) in Madagascar co-financed by the two parties. Making business in Madagascar is nowadays easy and well in line with Rio Tinto’s long-term ambition to operate in the country.

https://seekingalpha.com/article/4645361-rio-tinto-is-madagascar-the-next-big-move

Obviously SA is an amateur site but interesting positive view on Madagascar.