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Madagascar Revoking Uranium Exploration Permits, Midi Reports

Dec. 3 (Bloomberg) -- Madagascar’s mine ministry is revoking five uranium exploration permits as it seeks to prevent speculative investors that don’t have the money to complete projects in the country’s oil and mining industries, Midi Madagascar reported citing Minister Mamy Ratovomalala.

The government will take action against companies which do not contribute toward developing the country, the Antananarivo-based newspaper said.

To contact the reporter on this story: Hannah McNeish in Antananarivo via Johannesburg at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

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