|Approval Date||02 May 2007|
|Signature Date||22 Aug 2007|
|Sovereign / Non-Sovereign||Non Sovereign|
|Sector||Industry, Minning & Quarrying|
|DAC Sector Code||32210|
The Ambatovy Nickel Project, which builds one of the world's largest lateritic nickel mines, is one of the largest foreign direct investments in Madagascar and will help the country diversify its agriculture-based economy. This intervention consists of three major components: the development and development of an open-air nickel and cobalt mine about 80 km east of the capital, Antananarivo; the construction and operation of a large hydrometallurgical ore processing plant, 11 km from Toamasina, Madagascar's largest port; the construction and operation of a 220 km slurry pipeline between the mine and the mill. The processing plant, which is by far the largest component of the project, will create significant value-added in the country, compared to the export of raw ore. Once fully operational, the project will have the annual capacity to produce 60,000 tonnes of high grade construction and nickel, 5,600 tonnes of cobalt, and 190,000 tonnes of ammonium sulphate fertilizer. The project life is 30 years, which includes a mine-reserve life of 27 years and construction period of 3 years.
The project aims to support the Government of Madagascar in its efforts to expand Madagascar's export base, which currently relies almost exclusively on textiles and agri-food. Specifically, the project involves the extraction and processing of nickel and cobalt in Madagascar.
The main beneficiary of the project is the Government of Madagascar. The project will also indirectly benefit local businesses. Through an SME linkages programme the project is creating opportunities for local enterprises to participate in providing goods and services to mine. The project will have positive social benefits, particularly in terms of employment, health and safety in particular. It is expected that this productive activity will not only raise the income of the population but also dramatically improve their overall health and nutrition.
African Development Bank
|Last Update||31 Oct 2019|