This one is not so much about the mining code per-se, but more about the awareness, positive impact of and need for mining revenues.
GRAPHITE SECTOR - Madagascar holds 8% of the world reserve Itamara Randriamamonjy Published on April 18, 2024
The reserve of graphite in the Malagasy subsoil is estimated at 26 million tonnes. A potential, the majority of which is still waiting to be exploited.
An opening in the hallway. The current situation and the quantity of graphite production in the country could put the Big Island back in first place in the production of this mineral in Africa. The country's bowels contain nearly 8% of the world's graphite reserves, an amount that has allowed it to rank in the world's top 10.
Economic tensions and the investment war in Africa between the United States and China, the world's leading producer of this ore, could benefit Malagasy graphite. At the start of the year, China limited its exports for reasons of “national security”, penalizing several countries which obtain their supplies from this giant. The latter could then turn towards African countries.
With the energy transition and the evolution of the metallurgical industry as well as technology, geologists, financial giants and mining companies are now turning to graphite, thus maintaining demand. The country is full of this mineral, the Big Island, second African producer, is placed behind Mozambique.
Substantial volume
In addition to gargantuan graphite reserves in several areas, mining projects are in the start-up phase. The country could produce a large quantity of this ore, but also export a significant volume, which would allow the national economy and its mines to keep their heads above water. Fotadrevo, Ampanihy and other mining projects can help provide a quantity of one hundred and fifty thousand tons per year eventually.
According to a report from the Extractive Industries Transparency Initiative (EITI) in 2022, the reserves of natural graphite, distributed in the six major projects for the exploitation of this ore (Nextsource, Black Earth Minerals, Gold Sands, Tirupati and other establishments), are twenty-six million tonnes more than those of our Mozambican neighbor.
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