Madagascar publishes its first EITI report

On 8 June 2011, Madagascar published its first EITI report on government revenues and company payments made in 2007, 2008, 2009 and the first half of 2010.  Madagascar is the 29th country to have produced an EITI report.
 
Total government revenues reported amount to US$ 116 million for the period. Discrepancies between government receipts and company payments was 1%. The state-owned company, Kraomita Malagasy SA (KRAOMA), the country’s only chromite producer, participated in the reporting process along with two private firms. QMM Rio Tinto has mined ilmenite, rutile, and zircon at Mandena in the south-eastern region since January 2009. A more recent project, the Ambatovy project, which is a joint venture of Sherrit International Corporation of Canada, Sumitomo Corporation of Japan, and Korea Resources Corporation, also reported. Government entities at a national and subnational level also participated. These are the only three companies reported to be operating in Madagascar with large-scale mining licenses.

Artisanal mining plays an important role in the country, but due to the small scale of exploitation, licenced companies in this sector did not participate in this report. Companies at the exploration phase were not included in the report either.
 
The report was produced by Ernest & Young and is available for download from the Madagascar EITI website: http://www.eiti-madagascar.org/fr/content/juin-2011-rapport-final-daudit-et-de-r%C3%A9conciliation-de-paiements.

For further information, please contact (Eddie Rich) in the EITI International Secretariat.