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    Reference: 20060398
    Release date: 16 February 2007

    Promoter – Financial Intermediary

    Ambatovy Minerals SA and Dynatec Madagascar SA



    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.


    Mining and Quarrying


    Proposed EIB finance (Approximate amount)

    Approx EUR 200 - 230 million.

    Total cost (Approximate amount)

    Approx EUR 2 315 million.

    Environmental aspects

    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.


    Signed - 22/08/2007


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

    Related tags

    Madagascar Industry