Malagasy Government support

The Malagasy Government owns 20 per cent of the Madagascar mineral sands development project, represented by l'Office des Mines Nationales et des Industries Stratégiques (OMNIS).

In 2005, the Malagasy Government agreed to contribute US$35 million to the establishment of the port. This contribution is part of its Growth Poles project, funded by the World Bank.

Rio Tinto is funding 100 per cent of the project's construction until first production, forecast for 2008. At this point, OMNIS will find its share of project costs or dilute its interest.

QIT Madagascar Minerals will manage the port operations. At the end of the life of the mine, the port will fall under the responsibility and control of the Malagasy Government. The mine's life is projected at 40 years from first production in 2008.

See also
Rio Tinto's involvement with the Malagasy Government
Collaboration for responsible development of port and mining facilities in southern Madagascar