INDUSTRY

Ambatovy : seven days to survive

 

In parallel to the freeze of its bank account, the greatest mining investment in Madagascar Ambatovy is now threatened to disparition as a result of  the embargo imposed on many containers due to the new tax  imposed in the country, the ACD : « Advanced Cargo Declaration » for all local import – exporter companies.

 

Louis Roland Gosselin declares that the current state of the company’s  only permit it to survive for a week. With their containers blocked at Tamatave harbour,  the company cannot export and their imported raw materials required for the effective operation of the factory are all refused by maritime companies unless Ambatovy pays the ACD. An additionnal millions of dollars expenses for the company, already struck by the decrease of nickel’s international price.

 

Superior to 50 millions usd of investment, Ambatovy is considered as a Large  Scale  Investment in mining sector and is under the special regime of LGIM created by the Law n° 2001-031 of October 8, 2002 which indicated that each investment under the LGIM is no longer subject to any judicial change or additional fiscal charges in the future. This is another non-respect of the LGIM by the actual Government.

 

Ambatovy will be forced to take drastic measures next week but before will organize an urgent face to face meeting with the President Hery Rajaonarimampianina.  Being a  solid pillar of country’s economy, we are all waiting for a positive end with a responsible Government regarding this affair.    Ambatovy’s permanent customers has become uncertain of its supply capacity and are on the way to look for other nickel suppliers around the world.

Published on Friday, 19 February 2016 18:51
Written by F. RAFIDIHARINIRINA