Singapore and Madagascar are looking to work more closely together in areas like master-planning, capacity building and small and medium-sized enterprise development. The initiative follows a memorandum of understanding inked between the Madagascan government and Singapore Cooperation Enterprise, an arm of IE Singapore, yesterday at the first ever Madagascar-Singapore Business Forum.
The event at Conrad Centennial Singapore was held in conjunction with the first state visit of Madagascan President Hery Rajaonarimampianina and business and political leaders. The President spoke of the “distances that separate” Singapore, adding: “When we look at all the indicators… GDP, access rate to education… Singapore is far ahead.
Australia’s Bass Metals said on Thursday that it would move ahead with the acquisition of a large flake graphite mine in Madagascar. Announcing the completion of a due diligence, chairperson Rick Anthon said that the acquisition of the operating Graphmada mine from Aim-listed StratMin Global Resources would set Bass apart from its peers as the only ASX-listed graphite mining company delivering cash flow.
A due diligence and site visit to Graphmada confirmed that the mine had potential for low capital expenditure and low cost production. “The company is now seeking to add an experienced CEO and management team to lead the business and implement Bass’s low capital expansion plans,” Anthon said.