Madagascar plans higher royalties on nickel, cobalt, at least 20% stake in mining production
ANTANANARIVO (Reuters) – Madagascar plans to increase its royalties on nickel and cobalt to 4% from 2% at present, a draft mining law said on Tuesday.
The law, presented to reporters by Mines Minister Fidiniavo Ravokatra, showed that Madagascar also proposes to allow the government to take at least a 20% stake in any marketable mining production.
Reporting by Lovasoa Rabary; Writing by George Obulutsa; Editing by Helen Reid
