A report highlights the economic contribution of industrial mining in Madagascar
Author: The University of Queensland (Australia), Published on: 24 September 2015
"Economic Contributions from Industrial Mining in Madagascar", 1 September 2015
This report is the result of a research project on the economic contributions of industrial mining in Madagascar...The main objectives were to assess and anticipate the fiscal and non-fiscal contributions of large-scale mining in Madagascar, and to provide recommendations about how Madagascar can maximise the potential benefits, and ultimately leverage the mining sector to improve the quality of life of the Malagasy people. It is aimed for a wide audience of sector stakeholders or other parties interested in learning more about what to expect with regards to the economic impact of large-scale mining...The large scale mining projects under analysis have contributed and will continue to contribute significant monetary flows to the economy through domestic expenditure, salaries and fiscal contribution...The final impact in terms of monetary flows will depend on the number of companies operating in Madagascar...the level of production, and commodity prices...A country’s fiscal regime for mining should be simple, predictable, and transparent. It should ensure a fair distribution between mining companies and Government of the economic benefits derived from mineral resources, with fiscal rules that are complemented by an efficient and transparent tax administration...[Refers to QIT Madagascar Minerals (QMM), Rio Tinto, Total, Sherritt International Corporation, Sumitomo Corp., Korea Resources Corp., SNC-Lavalin Inc.].