The gold refinery will see the light of day. The United Arab Emirates will finance its construction. It will be operational from 2025. The formalization took place this Tuesday, May 7, 2024, on the sidelines of the opening of the 13th annual investment meeting (AIM) in Abu Dhabi, including the Malagasy President, Andry Rajoelina , is the guest of honor. This meeting will end this Thursday, May 9.
Upon his arrival, the Malagasy President was informed that his hosts wished to participate in the construction of the gold refinery in Madagascar, 2424.mg tells us. It’s no secret that the subsoil of the Big Island is gold, but for decades, the exploitation of this resource has only enriched traffickers and smugglers.
To rationalize operations and limit trafficking, upon his re-election as head of the country, Andry Rajoelina announced his intention to provide the country with its own refinery. This should be done quickly. It would be operational in 2025.
This good news might not be the only one. The President of the Malagasy Republic was the guest of honor of the 13th investors meeting (IAM), which is being held in Abu Dhabi (United Arab Emirates) since Tuesday and until this evening (Thursday May 9, 2024).
This cooperation from the UAE is not surprising. This Gulf country is Madagascar’s main gold importer along with China. This refinery will limit traffic and reduce costs incurred by expensive processing in Switzerland or Turkey to obtain 24-carat ingots, as required by international standards.
This progress should allow the Big Island to export 15 tonnes of gold per year. To achieve this objective, the President specifies that gold extracted industrially and artisanally will be processed by this factory.
Despite this important news, at the opening of the congress, Andry Rajoelina encouraged the investors present to dare to support the Malagasy economy. He explained at length his intention to develop the tourism industry which will benefit from unique biodiversity (lemurs, orchids, whales, sea turtles, dolphins, etc.), concludes L’Express de Madagascar.
