Ambatovy

Stock performance

History

Ambatovy is one of the largest foreign investments in Madagascar's history: a nickel and cobalt mine near Moramanga, connected by a slurry pipeline of more than 200 km to a processing plant near the port of Toamasina, which began production in the early 2010s. It is now controlled by Japan's Sumitomo Corporation and Korea's state mining company.

Business model

Ambatovy mines laterite ore, pipes it to its plant, and refines it into high-purity nickel and cobalt, along with fertilizer by-products, which it exports.

Market position

Ambatovy is one of the world's largest lateritic nickel operations and a significant cobalt producer.

Country impact

Nickel and cobalt have become among Madagascar's largest exports, and Ambatovy is a major employer and taxpayer, though its output has been affected by commodity-price swings and operational disruptions.