The Ilmenite project is the result of the conclusion of the Convention of Establishment between the Malagasy State represented by OMNIS and Titane Inc in 1998 following which the company Qit Madagascar Minerals S.A. (QMM S.A) was founded. The latter owns 80% of the share capital while OMNIS is a 20% shareholder.
QMM S.A is one of the largest mining investors in Madagascar with an estimation of one billion dollars of investment for a 30-year operating lifetime.
Located in Tolagnaro, south-eastern Madagascar, the project is expected to be implemented in stages in Petriky, Mandena and Sainte-Luce sites in the Anosy region. The project would source about 70 million tonnes of Ilmenite, Zircon and Monazite minerals according to estimates.
More information on: https://www.riotinto.com/operations/madagascar/qit-madagascar-minerals