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Madagascar: Rare Deposit-Rich Land Sold to French-German Group

Categories: Sub-Saharan Africa, France, Germany, Madagascar, Breaking News, Citizen Media, Economics & Business, Elections, Governance

French group Rhodia and German company Tantalus announced the signing of a Letter of Intent to exploit a 300 km-long region filled with rare deposits [1] [fr] in the Ampasindava peninsula in the North-West of Madagascar. The group expects to produce 15,000 tons a year within the next 18 months, a total value estimated at  2 billion euros [2] [fr].  Madagascar is still marred in a political crisis that was triggered by a land grab scandal [3]. Meanwhile, the head of the transitional government Rajoelina has seemingly kicked off his presidential campaign [4] [fr] [photos [5]] after announcing two years ago that he would not run [6] [fr] for president.