The Manantenina bauxite reserves have found their future operator. According to a statement released by the Ministry of Mines on Tuesday, the company is named Picadilly Management Limited. The ministry noted that the decree designating this company as the successful bidder for the international call for expressions of interest, launched in April, was adopted by the Council of Ministers on August 28.
The ministry did not provide details regarding the background of Picadilly Management Limited. The company was selected from three firms shortlisted by the committee in charge of reviewing applications and presented to the Council of Ministers for a final decision. It must still discuss the details of the mining specifications with the State before obtaining its mining permit, which must be accompanied by environmental and social permits. Current law also requires the company to process at least 30% of its production within Madagascar during the first years of operation.
Following the failure of the first call for expressions of interest launched in January, which received only two responses, seven companies responded to the relaunch. Six visited the Manantenina site in the Tolagnaro district, and four submitted complete files including technical and financial offers.
Bauxite is the primary ore used to produce aluminum. According to one of the latest companies to have explored the Manantenina site, “high-quality bauxite mineralization has been identified over more than 70 km² in an area spanning nearly 250 km².”
Captured & Published at: 2026-09-02 08:38:35 (Madagascar Local Time EAT)
Original Source: https://www.2424.mg/secteur-extractif-letat-annonce-lattribution-de-lexploitation-des-reserves-de-bauxite-de-manantenina-a-picadilly-management-limited/
