Madagascar

2024 Report 

Full data release with tables here.

In 2024, Madagascar was the world's first-ranked producer of mica, accounting for 24% of global production; second-ranked producer of graphite, accounting for 5% of global production; seventh-ranked producer of cobalt (along with the Philippines), accounting for 1% of global production; and eight-ranked producer of ilmenite and zircon, accounting for 3% and 2%, respectively, of global production. Other mineral commodities produced in the country included beryllium, cement, chromium, clays, fertilizers, gemstones, gold, nickel, rare earths, salt, stone, sand and gravel. Data on mineral production are in the Production table (formerly table 1). Production of mineral commodities contributed an estimated 3.7% to Madagascar’s gross domestic product. Madagascar exported minerals and metals, including chromium, gemstones graphite, mica, nickel, and titanium mainly to Canada, China, Japan, and Korea.. Mineral-related exports to the United States included cement, gemstones, nonferrous metals, nickel, sand, and stone (U.S. Census Bureau, 2024; Extractive Industries Transparency Initiative Madagascar, 2025, p. 140, 144; Ewing, 2026a, b; Jasinski, 2026; Johnston, 2026; Stewart, 2026).  

The legislative framework for the mineral sector in Madagascar is provided by the Mining Code (law No. 2023-007). The Ministry of Mines oversees the mineral sector and provides regulatory guidance, including the development of state mining policies and the enforcement of compliance with mining legislation. Most mineral commodities were produced by private domestic and foreign companies and artisanal small-scale miners. The Facilities table (formerly table 2) is a list of major mineral industry facilities (Extractive Industries Transparency Initiative Madagascar, 2024, p. 40, 51). More-extensive coverage of Government policies and programs can be found in previous editions of this chapter in the U.S. Geological Survey Minerals Yearbook, volume III, Area Reports—International—Africa and the Middle East, which are available at https://www.usgs.gov/centers/national-minerals-information-center/afric…;

Commodity Review 

Mica.— In 2024, Madagascar produced an estimated 90,000 metric tons (t) of mica, compared with 63,000 t in 2023. Most of the mica mined in the country was phlogopite and production was carried out largely by artisanal and small‑scale mining operations. Mica production took place mainly in the southern regions of Androy, Anosy, Atsimo-Andrefana, and Ihorombe. As of 2023 (the latest year for which data were available), more than 95% of the country’s crude mica exports went to China (Production and Facilities tables; TrendEconomy, 2024; Responsible Mica Initiative, 2025, p. 6). 

Graphite.— In 2024, NextSource Materials Inc. of Canada completed its first commercial shipment of SuperFlake graphite concentrate from its Molo graphite mine to Germany and the United States. NextSource defines SuperFlake graphite as a natural flake graphite concentrate that can reach 98% carbon purity across all flake sizes using simple flotation and be further upgraded to 99.97% battery-grade purity. In 2024, Etablissements Gallois S.A. signed a memorandum of understanding with SEDC Energy Sdn of Malaysia to jointly develop a \$1.5 billion graphite manufacturing plant in Malaysia, using flake graphite sourced from its Madagascar operations. The facility is expected to produce spherical natural graphite and synthetic graphite in three development stages beginning in 2025. In 2024, Tirupati Graphite plc of the United Kingdom placed the Sahamamy Mine on care-and-maintenance status. The mine, with a nameplate capacity of 18,000 metric tons per year of graphite, was commissioned in February 2023, with first sales the following month; however, financial constraints and strategic planning issues led to intermittent production and ultimately to its placement on care-and-maintenance status (Malaysian Investment Development Authority, 2024; NextSource Materials Inc., 2024, 2026; Tirupati Graphite plc, 2024, p. 10). 

Rare Earths, Titanium, and Zirconium.—In October, Energy Fuels Inc. of the United States acquired Base Resources Ltd. of Australia and its wholly owned Toliara Mineral Sand project. Toliara is a heavy-mineral-sands project and its development was suspended by the Government in November 2019 until negotiations on fiscal and other terms were completed. In November 2024, the Government allowed Energy Fuels to resume development, community programs, and technical work while it finalizes fiscal and stability terms and incorporates rare earth production into the existing mining permit (Energy Fuels Inc., 2024a, b). 

Production table

(Metric tons, gross weight, unless otherwise specified)

References Cited 

• Energy Fuels Inc., 2024a, Madagascar Government lifts suspension on Energy Fuels' Toliara critical minerals project: Lakewood, Colorado, Energy Fuels Inc., November 28. (Accessed March 6, 2026, at https://investors.energyfuels.com/2024-11-28-Madagascar-Government-Lift….) 

• Energy Fuels Inc., 2024b, U.S. rare earth and critical mineral supply security significantly boosted as Energy Fuels closes acquisition of Australia’s Base Resources: Lakewood, Colorado, Energy Fuels Inc., October 2. (Accessed March 6, 2026, at https://investors.energyfuels.com/2024-10-02-US-Rare-Earth-and-Critical….) 

• Extractive Industries Transparency Initiative Madagascar, 2025, Madagascar 2023 EITI Report:  Oslo, Norway, Extractive Industries Transparency Initiative, 265 p. (Accessed March 5, 2026, via https://eiti.org/documents/madagascar-2023-eiti-report.) [In French.] 

• Extractive Industries Transparency Initiative Madagascar (EITI), 2024, Madagascar—Licenses and contracts: Oslo, Norway, Extractive Industries Transparency Initiative. (Accessed March 5, 2026, at https://eiti.org/countries/madagascar.)  

• Ewing, S.M., 2026a, Cobalt: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 70–71. 

• Ewing, S.M., 2026b, Titanium mineral concentrates: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 198–199. 

• Jasinski, S.M., 2026, Mica (natural): U.S. Geological Survey Mineral Commodity Summaries 2026, p. 128–129. 

• Johnston, S.N., 2026, Zirconium and hafnium: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 214–215. 

• Malaysian Investment Development Authority, 2024, SEDC Energy, Gallois New Energy ink MoU to build RM6.3 bil graphite plant in Bintulu: Kuala Lumpur, Malaysia, Malaysian Investment Development Authority, February 2. (Accessed March 6, 2026, at https://www.mida.gov.my/mida-news/sedc-energy-gallois-new-energy-ink-mo….) 

• NextSource Materials Inc., 2024, NextSource Materials completes first commercial shipments of graphite concentrate to Germany and USA: Toronto, Ontario, Canada, NextSource Materials Inc., October 24. (Accessed March 6, 2026, at https://www.nextsourcematerials.com/nextsource-materials-completes-firs….) 

• NextSource Materials Inc., 2026, Superflake: Toronto, Ontario, Canada, NextSource Materials Inc. (Accessed March 6, 2026, at https://www.nextsourcematerials.com/superflake/.) 

• Responsible Mica Initiative, 2025, Annual report 2024: Paris, France, Responsible Mica Initiative, 27 p. (Accessed March 5, 2026, at https://responsible-mica-initiative.com/wp-content/uploads/2025/04/RMI-….) 

• Stewart, A.A., 2026, Graphite (natural): U.S. Geological Survey Mineral Commodity Summaries 2026, p. 92–93. 

• Tirupati Graphite plc, 2024, FY24 annual report: London, United Kingdom, Tirupati Graphite plc, 116 p. (Accessed March 6, 2026, via https://tirupatigraphite.co.uk/wp-content/uploads/2025/07/FY24-Annual-R….) 

• TrendEconomy, 2024, Madagascar—Trade data for HS 2525: Sofia, Bulgaria, TrendEconomy. 
  (Accessed March 5, 2026, at https://trendeconomy.com/data/h2/Madagascar/2525.) 

• U.S. Census Bureau, 2024, End-use import statistics (Excel file): Suitland, Maryland, U.S. Department of Commerce. (Accessed March 5, 2026, at https://www.census.gov/foreign-trade/statistics/product/enduse/imports/….)