Madagascar's natural resources include a variety of unprocessed agricultural and mineral resources. Key agricultural resources include vanilla, lychees and shrimp. Key mineral resources include various types of precious and semi-precious stones, ilmenite and petrol.
Several major projects are underway in the mining, oil and gas sectors that, if successful, will give a significant boost to the Malagasy economy. In the mining sector, these include the development of coal at Sakoa and nickel near Tamatave.
In oil, Madagascar Oil is developing a massive onshore heavy oil field at Tsimiroro and ultra heavy oil field at Bemolanga. Madagascar Oil SA is a Malagasy company, founded by Sam Malin with South African businessman Michael Smith and Australian businessmen Robert Nelson. Madagascar Oil focuses on the development, exploration and production of petroleum. It is the principal onshore oil company in Madagascar in terms of oil resources and acreage.
Mining Corporation Rio Tinto Group began operations near Fort Dauphin in 2008, following several years of infrastructure preparation. The mining project is highly controversial, with Friends of the Earth and other environmental organizations filing reports to detail their concerns about effects on the local environment and communities.
The Rio Tinto Group is a diversified, British-Australian, multinational mining and resources group with headquarters in London and Melbourne. The company was founded in 1873, when a multinational consortium of investors purchased a mine complex on the Rio Tinto River, in Huelva, Spain from the Spanish government. Since then, the company has grown through a long series of mergers and acquisitions to place itself among the world leaders in the production of many commodities, including aluminum, iron ore, copper, uranium, coal, and diamonds. Although primarily focused on extraction of minerals, Rio Tinto also has significant operations in refining, particularly for refining bauxite and iron ore. The company has operations on six continents but is mainly concentrated in Australia and Canada, and owns gross assets valued at $81 billion through a complex web of wholly and partly owned subsidiaries. In 2007, the company was valued at $147 billion.
Several major projects are underway in the mining, oil and gas sectors that, if successful, will give a significant boost to the Malagasy economy. In the mining sector, these include the development of coal at Sakoa and nickel near Tamatave.
In oil, Madagascar Oil is developing a massive onshore heavy oil field at Tsimiroro and ultra heavy oil field at Bemolanga. Madagascar Oil SA is a Malagasy company, founded by Sam Malin with South African businessman Michael Smith and Australian businessmen Robert Nelson. Madagascar Oil focuses on the development, exploration and production of petroleum. It is the principal onshore oil company in Madagascar in terms of oil resources and acreage.
Mining Corporation Rio Tinto Group began operations near Fort Dauphin in 2008, following several years of infrastructure preparation. The mining project is highly controversial, with Friends of the Earth and other environmental organizations filing reports to detail their concerns about effects on the local environment and communities.
The Rio Tinto Group is a diversified, British-Australian, multinational mining and resources group with headquarters in London and Melbourne. The company was founded in 1873, when a multinational consortium of investors purchased a mine complex on the Rio Tinto River, in Huelva, Spain from the Spanish government. Since then, the company has grown through a long series of mergers and acquisitions to place itself among the world leaders in the production of many commodities, including aluminum, iron ore, copper, uranium, coal, and diamonds. Although primarily focused on extraction of minerals, Rio Tinto also has significant operations in refining, particularly for refining bauxite and iron ore. The company has operations on six continents but is mainly concentrated in Australia and Canada, and owns gross assets valued at $81 billion through a complex web of wholly and partly owned subsidiaries. In 2007, the company was valued at $147 billion.
