Madagascar

Ambatovy Mine

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Overview

Mine TypeOpen Pit
Commodities
  • Nickel
  • Cobalt
  • Ammonium sulphate
Mining Method
  • Truck & Shovel / Loader
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Mine Life... Lock
ShapshotAmbatovy is a large-scale nickel and cobalt mining enterprise in comprised of a lateritic mine and a processing plant.

Position Ambatovy as amongst the most successful nickel laterite operations in the world.

Owners

SourceSource
CompanyInterestOwnership
Korea Mine Rehabilitation and Mineral Resources Corp. (KOMIR 38.03 % Indirect
Sumitomo Corp. 54.17 % Indirect
Ambatovy Joint Venture (operator) 100 % Direct
The KOMIR’s equity interest in the Ambatovy is 38.03%, and a consortium of Korean investors, including the KOMIR, collectively holds a 45.82% equity interest in the project. Sumitomo Corporation, a Japanese company, holds a 54.17% equity interest in the Ambatovy.

Ambatovy Joint Venture is comprised of of two companies: Ambatovy Minerals S.A. (AMSA) and Dynatec Madagascar S.A. (DMSA). AMSA is the holder of the mining title and operates the Mine Site and pipeline, and DMSA manages the Plant Site and all the activities related to it.

Deposit type

  • Laterite

Summary:

The Ambatovy orebody consists of two large, thick, weathered ultramafic lateritic nickel deposits located approximately 3 km apart. The regional geological setting is a north-south belt of basic gneisses and migmatites, which are part of the high- grade metamorphic rocks underlying the eastern two- thirds of Madagascar. The dominant feature of the Ambatovy resource is the Antampombato Complex, a large intrusive that cuts the metamorphic rocks. The intrusive is composed of gabbroic to syenitic rocks with two small outer ultramafic bodies rimming the intrusive. Exploration suggests that the complex represents multiple, magmatic intrusions that commenced with ultramafic intrusive, then was followed by gabbroic intrusives and terminated with the more felsic intrusive.

The Ambatovy Deposit occurs towards the southern margin of the complex and is approximately 3 km x 2.4 km and oriented in a west-northwest to east-southeast direction. A northwest trending gabbroic intrusive cuts the Ambatovy Deposit resulting in three sub- blocks: Ambatovy West, Central and Southeast. The Analamay Deposit is located at the eastern margin of the complex and is approximately 4 km x 2.8 km, oriented north-south and it also is divided into sub- blocks known as Analamay North, Central and South. Ambatovy West is cut by numerous block faults that strike northwest/southeast with a conjugate set, striking northeast/southwest. Evidence indicates that faulting continued during the laterisation.

The Deposits cover an area of about 1,300 ha, and range in thickness from 20 m to 100 m, with the average thickness being approximately 40 m. Within the lateritic profile, there are three distinct zones:

- Ferricrete is the uppermost layer, and forms an extremely hard, coherent crust of iron oxides up to 3 m thick and acts as a deterrent to mechanical erosion.

- Limonite, referred to locally as ferralite, constitutes more than 90% of the economic grade nickel mineralisation and is predominately a spongy mass with iron concentrations of 40–50%, predominately in goethite. Enriched nickel and cobalt grades are largely achieved by depletion of other elements through the weathering process, rather than additions to the system. The nickel grade of the laterite is influenced by the nickel content of the underlying bedrock.

- Saprolite lies at the base of the lateritic zone, on top of the bedrock.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Production

2020 Nickel production is reported since recommenced production in Q4 2020.
CommodityProductUnits202320222021202020192018201720162015
Nickel Powder t  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe33,73333,18335,47342,10547,271
Cobalt Powder t  ....  Subscribe  ....  Subscribe2,9002,8503,0533,2723,464
Ammonium sulphate Salt t  ....  Subscribe  ....  Subscribe80,95094,341111,966
^ Guidance / Forecast.

Operational metrics

Metrics202120202019201820172016
Annual production capacity  ....  Subscribe60,000 t of nickel powder60,000 t of nickel powder60,000 t of nickel powder
Annual production capacity  ....  Subscribe5,600 t of cobalt powder5,600 t of cobalt powder5,600 t of cobalt powder
Annual production capacity  ....  Subscribe200,000 t of ammonium sulphate salt200,000 t of ammonium sulphate salt
Ore tonnes mined  ....  Subscribe  ....  Subscribe6,376 kt5,335 kt7,093 kt
Waste  ....  Subscribe  ....  Subscribe1,845 kt2,037 kt3,123 kt
Total tonnes mined  ....  Subscribe  ....  Subscribe8,221 kt7,372 kt10,126 kt

Production Costs

CommodityUnits201920182017
Credits (by-product) Nickel USD -1.02 / lb   -2.98 / lb   -2.35 / lb  
Cash costs (sold) Nickel USD 6.06 / lb   6.79 / lb   6.01 / lb  
Cash costs (sold) Nickel USD 5.3 / lb **   3.91 / lb **   3.83 / lb **  
** Net of By-Product.

Financials

Units20222021202020192018
Operating Income M CAD -279.5   -340.5  
Pre-tax Income M CAD -563.6   -619.7  
After-tax Income M CAD -568   -625.1  
Earnings M  ....  Subscribe  ....  Subscribe  ....  Subscribe

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 8, 2023
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....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Aug 8, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023

EmployeesContractorsTotal WorkforceYear
...... Subscription required ...... Subscription required ...... Subscription required 2021
...... Subscription required ...... Subscription required ...... Subscription required 2020
...... Subscription required ...... Subscription required ...... Subscription required 2019
...... Subscription required ...... Subscription required ...... Subscription required 2018
...... Subscription required ...... Subscription required ...... Subscription required 2017
...... Subscription required ...... Subscription required ...... Subscription required 2016
...... Subscription required ...... Subscription required ...... Subscription required 2015

Aerial view:

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