December 10, 2019 / 12:02 PM / 2 months ago

Madagascar plans higher royalties on nickel, cobalt, at least 20% stake in mining production

ANTANANARIVO, Dec 10 (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)

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