Madagascar - Mines - The Mining Business Center, a mining hub

Founded in 2000, the BCMM is a public industrial and commercial institution, present throughout the country through 12 provincial and regional offices. Its mission is to manage mining permits in Madagascar and to promote the Malagasy mining sector nationally and internationally. In 2017, the realization of the MBC project saw the emergence of a new hub for the sector. It is both the gateway to mining investments in Madagascar and a platform for exchanges with national and foreign investors.

The BCMM intends to continue to clean up mining activity. The MBC also ensures better traceability of precious stones and limits the trafficking of sapphires and rubies extracted from open-pit mines.

In summary, the expected results are as follows:
– Increase the number of new mining investors operating in Madagascar
– Improve the flow of Foreign Direct Investment (FDI) through various new mining projects
– Accelerate and improve administrative procedures (quality of service)
– To be the showcase for “Doing business” and good business practices in Madagascar
– Establish better synergy between the actions of all institutional players in the sector
– Eradicate underground and informal economies
– Encourage local processing of mining products, with a view to increasing added value
– Improve the economic contribution of the sector to the development of the country through various mining projects
– Host international trade fairs and conferences in the mining sector

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The challenges of the Malagasy mining sector

The mining sector represents:
– 27,59% of export revenue in 2018
– 14% of tax revenue or 60% of foreign exchange revenue and 30% of tax revenue
– 1st source of FDI, i.e. 227 million dollars in 2019
– 4.18% contribution to GDP in 2020
Two types of exploitation coexist:
– Artisanal and small-scale mining: 500,000 full-time jobs and up to 1 million seasonal workers
– Large-scale mining companies: Ambatovy with initial investments of USD 8 billion, RioTinto QMM with $1.1 billion
Several initiatives in place to improve the sector:
– Madagascar is the first African country to have implemented the mining cadastre system with the creation from the Mining Cadastre Office of Madagascar in 2009
– A business center drawn from the sector of nearly 7,000 m² was inaugurated in 2017
– Madagascar adhering to the Extractive Industries Transparency Initiative (EITI) process with a 3rd validation set for December 9, 2021