Madagascar’s mining chamber on Monday sharply criticised a draft mining law that proposes greater government revenue from mining activities, saying the changes will halt new investment and endanger existing mining operations in the country.
The bill, seen by Reuters last week, shows that Madagascar plans to increase its royalties on nickel, cobalt, precious metals, and gemstones to 4% from 2% at present. It also proposes a government stake of at least 20% in any marketable mining production.