Madagascar Investment Guide: Mining Sector

As the Malagasy government implements a series of socioeconomic relief measures, the political and economic situation remains generally stable. With the resumption of operations in the mining sector, the economy has achieved recovery-driven growth. On March 30, 2023, the Government of Madagascar announced the phased resumption of renewals for mining-related permits. The Council of Ministers declared the resumption of mining permit renewals, followed by limited renewals of Small-Scale Mining Permits (PRE). Subsequently, Exploration Permits (PR) and Mining Permits (PE) will be gradually reopened. In addition, the government will launch a land-clearing initiative targeting mining areas; the Ministry of Mines plans to conduct site inspections for each region applying for permit renewal to facilitate the resumption process. On August 7, 2023, Madagascar’s High Constitutional Court ruled that the new Mining Code of Madagascar and the Investment Code of Madagascar comply with the Constitution. Mining revenues will be distributed as follows: 10% will go to the National Fund, while 90% will be allocated to local governments—60% to the municipality where the project is located, 30% to the region, and 10% to the province. Parliament also amended the Investment Act. Beyond formal amendments, both chambers approved the introduction of specific authority provisions governing the issuance of work permits for foreign workers, and set an upper limit of 20% on the proportion of foreign workers within a company’s total workforce. Furthermore, companies are encouraged to collaborate with local communities at the municipal and village levels. I. Overview of Madagascar’s Mineral Resources Madagascar, the world’s fourth-largest island, lies in the southwestern Indian Ocean east of the African continent. It serves as a vital maritime crossroads in eastern Africa and functions as an important bridge and nexus in China-Africa cooperation under the Belt and Road Initiative. Dubbed the ‘Pearl of the Southwestern Indian Ocean,’ Madagascar boasts exceptional natural endowments and significant development potential. Its mineral resources are abundant, including graphite, chromite, bauxite, quartz, mica, nickel ore, ilmenite, iron ore, manganese, lead, zinc, and coal—with graphite reserves ranking first in Africa. Additionally, Madagascar possesses rich deposits of gemstones and semi-precious stones, as well as marble, granite, and fossilized flora and fauna. II. General Investment and Cooperation Environment in Madagascar Since Madagascar’s return to constitutional governance and conclusion of its political crisis in 2014, socioeconomic development has gradually returned to normal, and the investment environment has improved—though gross national income per capita and GDP per capita remain low. In 2019, Madagascar achieved its first-ever peaceful, constitutionally compliant presidential transition in recent years. Madagascar’s competitive advantages include: abundant natural resources; low labor costs; relatively sound policy and regulatory frameworks; and streamlined procedures for company establishment. Moreover, Madagascar has enacted a series of laws—including the Investment Code, the Free Zones and Free Enterprises Act, the Mining Code, the Foreign Exchange Act, the Companies Act, and the Public-Private Partnership Act—to attract foreign investment. III. Regulations Governing Mining Investment in Madagascar Under Madagascar’s Investment Code, any natural person or legal entity—whether Malagasy or foreign—is free to invest and establish enterprises in Madagascar, provided they comply with applicable domestic laws. Investment and operation in certain special sectors—including finance, insurance, mining, petroleum, telecommunications, healthcare, pharmaceuticals, and pharmaceutical support industries—require prior approval from the relevant competent authorities, and equity ownership ratios must be approved on a case-by-case basis.

In-Depth Research and Forecast Report on Global and Chinese Lithium Mining Market Development and Investment Prospects (2026 Edition)

3. Lithium Mine Scale (IV) Lithium Mines in Matabeleland South Province 1. Deposit Location 2. Mining Companies and Affiliates (1) Company 1 (2) Company 2 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Mine Production Capacity 6. Lithium Ore Offtake Agreements (V) Lithium Mines in Nyakaran Province 1. Deposit Location 2. Mining Companies and Affiliates (VI) Sabi Star Lithium Mine in Nyakaran Province 1. Deposit Location 2. Mining Companies and Affiliates (1) Company 1 (2) Company 2 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Mine Production Capacity 6. Lithium Ore Offtake Agreements (VII) Lithium Mines in Matabeleland North Province 1. Deposit Location 2. Mining Companies and Affiliates 2. Lithium Mine Scale 3. Lithium Ore Grade 4. Lithium Mine Production Capacity (VIII) Lithium Mines in Matabeleland North Province 1. Deposit Location 2. Mining Companies and Affiliates 3. Lithium Mine Scale 4. Lithium Ore Offtake Agreements II. Lithium Resources in the Democratic Republic of the Congo (DRC) (I) Lithium Deposits 1. Deposit Location 2. Mining Companies and Affiliates (1) Company 1 (2) Company 2 (3) Company 3 (4) Company 4 (5) Company 5 (6) Company 6 (7) Company 7 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Mine Production Capacity 6. Lithium Ore Offtake Agreements III. Lithium Resources in Mali (I) Lithium Deposit (Under Construction) 1. Deposit Location 2. Mining Companies and Affiliates (1) Company 1 (2) Company 2 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Mine Production Capacity 6. Lithium Ore Offtake Agreements (II) Lithium Deposit 1. Deposit Location 2. Mining Companies and Affiliates (1) Company 1 (2) Company 2 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Mine Production Capacity 6. Lithium Ore Offtake Agreements IV. Lithium Resources in Ethiopia (I) Deposit (Under Construction) 1. Deposit Location 2. Mining Companies and Affiliates (1) Company 1 (2) Company 2 (3) Company 3 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Concentrate Production Capacity 6. Lithium Concentrate Offtake Agreements 7. Lithium Concentrate Pricing V. Lithium Resources in Namibia (I) Lithium Deposit 1. Deposit Location 2. Mining Companies and Affiliates 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Mine Production Capacity VI. Lithium Resources in Ghana VII. Lithium Resources in Madagascar Chapter Twelve: Analysis of European Lithium Resources I. Lithium Resources in Ireland (I) Lithium Deposit 1. Deposit Location 2. Mining Companies and Affiliates II. Lithium Resources in Serbia (I) Lithium Deposit 1. Deposit Location 2. Mining Companies and Affiliates 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Mine Production Capacity III. Lithium Resources in Ukraine IV. Lithium Resources in Portugal (I) Lithium Deposit 1. Deposit Location 2. Mining Companies and Affiliates 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Mine Production Capacity V. Lithium Resources in Germany (I) Lithium Deposit 1. Deposit Location 2. Mining Companies and Affiliates (1) Company 1 (2) Company 2 (3) Company 3 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Mine Production Capacity (II) Lithium Deposit 1. Deposit Location 2. Mining Companies and Affiliates 3. Lithium Mine Scale 4. Lithium Ore Grade (III) Geothermal Brine Lithium Deposit 1. Deposit Location 2. Mining Companies and Affiliates 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Mine Production Capacity 6. Lithium Ore Offtake Agreements VI. Lithium Resources in the Czech Republic (I) Lithium Deposit 1. Deposit Location 2. Mining Companies and Affiliates 3. Lithium Mine Scale 4. Lithium Ore Grade 5. Lithium Mine Production Capacity VII. Lithium Resources in Finland (I) Lithium Deposit 1. Deposit Location 2. Mining Companies and Affiliates 3. Lithium Mine Scale

Gemcorp Joins Madagascar to Raise $5 Billion for Energy, Mining

23 hours ago

Gemcorp Capital Management partners with Madagascar's sovereign wealth fund to raise $5 billion for energy infrastructure and mining projects. The initiative targets developing undeveloped mineral deposits like graphite, cobalt, and nickel to attract international investment.

bloomberg

2026-10-06

Gemcorp Joins Madagascar to Raise $5 Billion for Energy, Mining

Gemcorp Joins Madagascar to Raise $5 Billion for Energy, Mining

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