Ambatovy mine
From Wikipedia the free encyclopedia
| Location | |
|---|---|
  Ambatovy | |
| Location | Moramanga |
| Regions | Atsinanana and Alaotra Mangoro |
| Country | Madagascar |
| Coordinates | 18°50′46″S 48°18′14″E / 18.846°S 48.304°E |
| Production | |
| Products | Nickel Cobalt Ammonium sulfate |
| History | |
| Opened | 2007 |
| Owner | |
| Company | Sumitomo Corporation (54.17%)[1] South Korean consortium |
| Website | ambatovy |
The Ambatovy mine is a large nickel and cobalt mine located in Madagascar, off the east coast of Africa. It is currently active, and the largest mine in the country.
Ownership and operations[edit]
Several exploration permits for the site were acquired by Phelps Dodge in 1995. In 2004 and 2005 Phelps Dodge sold its interest in the project to Dynatec Mining Limited.[2] The mine was set up in 2007 by Dynatec Mining Limited, a Canadian company, backed by international development groups including the European Investment Bank.[3][4] Sherritt International acquired Dynatec and later handed over majority control of the mine to the Japanese Sumitomo Corporation.[4] The rest of equity in the mine is held by a South Korean consortium led by the state-owned Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR), as well as STX Corporation and POSCO.[5]
Until 2020, when it halted production due to the COVID-19 pandemic in Madagascar, the mine was producing 4,000 tonnes of refined cobalt and almost 40,000 tonnes of refined nickel every year.[6][4] Operations resumed in March 2021.[7] After running at a loss from 2014 to 2020, the mine became profitable in 2021, especially after a large increase in nickel prices due to the Russian invasion of Ukraine.[5]
Economic impact[edit]
In 2022 the company paid 44 million US$ (198 Billion ariary) on mining taxes & fees to the Malagasy government. Furthermore 340 million US$ were spent with local purchases.[8] 40.000 tons of Nickel and 3600 tons of cobalt were produced during the same year.
Social and environmental impacts[edit]
Ambatovy is the largest investment in Madagascar's history.[9] The mine employs 10,000 people, of which 8,000 are Malagasy, and provides 27 per cent of the country's tax revenues.[4]
The mine has been criticised for its local environmental impacts.[3] The open pit mine displaced 1,600 hectares (4,000 acres) of rainforest and is connected by a 200 km long slurry pipeline to the processing plant at Toamasina, which has a 750-hectare (1,900-acre) area of lakes where waste materials are dumped. Effluent is also released into the sea, leading to complaints from fishermen.[10] On the other hand, the mine is among the first to fully offset the loss of forest from mining operations.[11][12]
References[edit]
- ^ Desai, Pratima (2021-08-27). "Cobalt producer Ambatovy makes surprise pick of Stratton as marketing partner". Reuters. Retrieved 2022-07-16.
- ^ "NICKEL EXPLORATION – Dynatec to acquire all of Ambatovy". Canadian Mining Journal. 2005-02-02. Retrieved 2021-09-09.
- ^ a b Randrianarisoa, Riana Raymonde; Soustras, Laurence (23 November 2017). "The Ambatovy Nickel mine in Madagascar has caused numerous environmental problems". The Ecologist. Retrieved 8 June 2021.
- ^ a b c d Mandimbisoa, R. (25 February 2021). "Mines: Ambatovy reprend sa production en mars". Madagascar Tribune (in French). Retrieved 8 June 2021.
- ^ a b Kim Hyun-bin (2022-03-15). "POSCO Int'l reconsiders selling stake in Madagascar nickel mine". koreatimes. Retrieved 2022-07-16.
- ^ Dykes, Jacob (13 August 2020). "No net loss: can development projects offset damage to biodiversity by boosting nature elsewhere". Geographical Magazine. Retrieved 8 June 2021.
- ^ "Sumitomo says Ambatovy nickel project in Madagascar resumed March 23". MINING.COM. 2021-03-29. Retrieved 2022-07-16.
- ^ L'Express.mg Redevances minières
- ^ Widman, Marit (2014-01-02). "Land Tenure Insecurity and Formalizing Land Rights in Madagascar: A Gender Perspective on the Certification Program". Feminist Economics. 20 (1): 130–154. doi:10.1080/13545701.2013.873136.
- ^ Raymonde Randrianarisoa, Riana; Soustras, Laurence (2018-06-27). "Uncertainty around Madagascar mine in wake of cyclone". Mongabay Environmental News. Retrieved 8 June 2021.
- ^ Greenfield, Patrick (2022-03-09). "Is a Madagascan mine the first to offset its destruction of rainforest?". the Guardian. Retrieved 2022-07-16.
- ^ Devenish, Katie; Desbureaux, Sébastien; Willcock, Simon; Jones, Julia P. G. (2022-03-03). "On track to achieve no net loss of forest at Madagascar's biggest mine". Nature Sustainability. 5 (6). Springer Science and Business Media LLC: 498–508. doi:10.1038/s41893-022-00850-7. ISSN 2398-9629.