[miningmx.com] – JEAN Louis Robinson, a presidential candidate for Madagascar’s elections scheduled for October 25, said he would cut taxes in order to attract foreign investors and respect existing contracts.
In an interview with Bloomberg News, Robinson said: “Investors need to know that contracts are contracts and once signed, will be respected.’
There are a number of mining developments underway on the African island including a $5bn titanium mine backed by Rio Tinto while Canada’s Sherritt International has a 40% stake in the Ambatovy nickel mine, and Lemur Resources, a Perth, Australia-based coal-exploration company, operates the Imaloto thermal-coal project.
Madagascar was subject to a coup four years ago when Andry Rajoelina, a former nightclub disc jockey, seized power with the help of the military in 2009, deposing President Marc Ravalomanana.
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