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        AMBATOVY NICKEL PROJECT

        Signature(s)

        Amount
        € 247,013,955.39
        Countries
        Sector(s)
        Madagascar : € 247,013,955.39
        Industry : € 247,013,955.39
        Signature date(s)
        22/08/2007 : € 3,461,534.26
        22/08/2007 : € 97,145,075.37
        22/08/2007 : € 146,407,345.76
        Other links
        Related publications
        Environmental and Social Impact Assessment (ESIA) - - EN
        Related publications
        Non Technical Summary (NTS) of the Environmental Impact Assessment (EIA) - - EN

        Summary sheet

        Release date
        16 February 2007
        Status
        Reference
        Signed | 22/08/2007
        20060398
        Project name
        Promoter - financial intermediary
        Ambatovy Nickel project
        Ambatovy Minerals SA and Dynatec Madagascar SA
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Approx EUR 200 - 230 million.
        Approx EUR 2 315 million.
        Location
        Sector(s)
        Description
        Objectives

        Development and operation of a new large-scale open pit lateritic nickel ore mine, construction and operation of a 220km slurry pipeline for transporting fine ore, and a hydrometallurgical processing plant and refinery.

        Production of 60 000 t/y nickel metal and 5 600t/y cobalt.

        Environmental aspects
        Procurement

        An extensive Environmental and Social Impact Assessment (ESIA) has been completed by independent consultants, and has been submitted to Government and approved. An addendum has been produced and submitted for the slurry pipeline route.

        The EPCM contract has been awarded following international negotiations with the few engineering companies able to carry out such a project. The individual contracts will be awarded following international negotiation.

        The sponsor is a private company operating in the mining sector: the procedures followed are in compliance with the Bank's Guide to Procurement.

        Comments

        Mining and Quarrying

        Other links
        Related publications
        Environmental and Social Impact Assessment (ESIA) - - EN
        Related publications
        Non Technical Summary (NTS) of the Environmental Impact Assessment (EIA) - - EN

        Disclaimer

        Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
        They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

        Photogallery

        Development of open pit nickel mine in Moramanga and hydrometallurgical processing unit in Taomasina, Mauritania
        Ambatovy Nickel Project
        ©Ambatovy
        Development of open pit nickel mine in Moramanga and hydrometallurgical processing unit in Taomasina, Mauritania
        Ambatovy Nickel Project
        ©Ambatovy
        Development of open pit nickel mine in Moramanga and hydrometallurgical processing unit in Taomasina, Mauritania
        Ambatovy Nickel Project
        ©Ambatovy
        Development of open pit nickel mine in Moramanga and hydrometallurgical processing unit in Taomasina, Mauritania
        Ambatovy Nickel Project
        ©Ambatovy
        Development of open pit nickel mine in Moramanga and hydrometallurgical processing unit in Taomasina, Mauritania
        Ambatovy Nickel Project
        ©Ambatovy

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

        Related publications