• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 2 hours Which producers will shut in first?
  • 49 mins What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 55 mins Its going to be an oil bloodbath
  • 6 hours The Most Annoying Person You Have Encountered During Lockdown
  • 4 hours Why should ANY oil company executive get ANY bonus now?
  • 11 hours Saudi Aramco struggling to raise money for this year's dividend of $75 billion. Now trying to sell their pipelines for $10 billion.
  • 11 hours How to Create a Pandemic
  • 15 hours KSA taking Missiles from ?
  • 17 hours Dr. Fauci is over rated.
  • 10 hours Russia's Rosneft Oil Company announces termination of its activity in Venezuela
  • 8 hours A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 17 hours Breaking News - Strategic Strikes on Chinese Troll Farms
  • 17 hours CDC covid19 coverup?

Breaking News:

IEA: OPEC Can’t Save The Oil Market

Alt Text

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

Alt Text

The Worst Oil Trades Ever Made

Wall Street is full of…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

Is This "Lost World" Finally Opening For Exploration?

There's a saying in exploration that there are only two ways to make a discovery.

Either used advanced technology and techniques in a mature area. Or apply basic methods in a new terrain.

One of the most interesting "new places" around the world is Madagascar. A nation that enjoyed a rich mining history in colonial times. But has seen little in the way of systematic modern exploration since.

There was a brief period of openness here from 2002 to 2009. Which encouragingly, yielded some major mining developments like Sherritt's Ambatovy nickel mine, and the Fort Dauphin titanium project developed by Rio Tinto.

But then a political coup plunged the country back into isolation.

Things now appear to be changing for this "lost world" however. With news last week suggesting that some much-needed geological attention is coming to the island.

Xinhua reported that the China Geological Survey has signed a cooperation agreement with Madagascar's University of Antananarivo. With one of the program aims being the creation of a geologic map across the country.

This seemingly basic step could be a critical one for exploration here. With large parts of the island simply being unknown right now when it comes to detailed geology.

And knowing the rocks is a big first step toward exploration targeting. With a number of the country's regions having significant potential--based on comparison with nearby nations.

In gold, for example. During the distant past, Madagascar lay sandwiched between South Africa and India--both locales known for their massive gold endowments. And there's long been suspicion that similar-sized deposits could be found in the country's northeast. But little information existed to help test this hypothesis.

The new mapping program is a big step toward this. And could allow explorationists to start "doing the basics" when it comes to assessing this virgin territory. And not just for minerals--the hydrocarbon potential here is also significant. Especially in light of recent offshore activity in places like Mozambique, Tanzania and South Africa.

Madagascar's government also appears to be (slowly) going in the right direction. Having recently held its first democratic elections in years. Last month, Canada sent its first trade minister to the island since the 2009 coup--with mining being one of the big discussion points.

It won't be overnight, but this could be a place we'll be hearing a lot more about coming up.

Here's to awakening the giant,

By Dave Forest


Download The Free Oilprice App Today

Back to homepage






Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News