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# [MADAGASCAR] Mining Moratorium Lifted: $10–15 Billion Investment Potential Unlocked for Graphite and Nickel
- URL: https://businessoi.media/en/madagascar-fin-du-moratoire-minier-10-a-15-milliards-usd-de-potentiel-pour-le-graphite-et-le-nickel-en/
- Published: 2026-08-25T02:46:28.000Z
- Updated: 2026-08-25T02:46:28.000Z
- Description: Madagascar's 16-year mining moratorium was lifted in January 2026, unlocking 1,650+ pending permit applications and $10–15 billion in potential FDI. Already the world's leading non-Chinese graphite supplier, the country enters a new extractive era.
- Author: Emmanuel TAOCHY
- Tags: Madagascar, Investissement, Économie, Revue matinale, #en

After sixteen years of freeze, Madagascar's mining industry is breathing again. In January 2026, the new authorities officially lifted the moratorium on mining permits, opening the door to **more than 1,650 accumulated applications** and a potential foreign direct investment of **$10–15 billion**, according to sector analysts (discoveryalert.com).

## A strategic subsoil for the global energy transition

Madagascar holds considerable mining assets. The country ranks in the global top 10 for nickel, with **8.2 million tonnes** of identified resources — a metal whose battery demand is projected to **triple or quadruple by 2040**, driven by the electric vehicle boom. Malagasy graphite, particularly valued for lithium-ion batteries, positions the island as the world's leading non-Chinese supplier at a time when Western supply chains are actively diversifying sources.

The Ambato-Arana graphite project (LION Energy) received a decisive boost in 2026 with the lifting of a sixteen-year permit suspension, a strong signal to international investors.

## An underexploited sector

Despite these resources, the mining sector currently accounts for **less than 5% of GDP**. Informality remains a major challenge: while Ghana has formalised 65% of its artisanal gold sector, Madagascar still operates at below 5% formalisation in gold — a structural weakness the new authorities have committed to address.

Energy Fuels, with its Toliara project (titanium/zirconium), expects a final investment decision in 2026, which could trigger a domino effect on other pending files.

## Why it matters

For the Indian Ocean region, Madagascar's mining reopening is a shared opportunity. Mauritius, Seychelles and Réunion all stand to benefit as service, finance and logistics partners for emerging projects. Globally, Madagascar holds a rare card: that of a credible non-Chinese player in the critical minerals needed for decarbonisation. The question is no longer whether the potential exists — it is documented — but whether infrastructure, governance and political stability will follow through.

*Sources: discoveryalert.com, africanminingmarket.com, capmad.com — 2026.*