The point about the Malagasy govt. having a “20% stake” in the mine should be clarified. (“The Malagasy government, with a 20% stake and in the face of the largest investment in its history, is unlikely to act as a watchdog….”)

The Government of Madagascar actually has just an option to buy a 20% capital share in QMM. It would need to take out a loan estimated at (US) $117 million to do this.... It has already taken out several World Bank loans, including one for US$35 million for its contribution to building a new port for shipment of the ilmenite. In other words, rather than getting any significant fragment of the profits, they’re more likely to get next to nothing. Probably, the only real ‘trickle down’ effects will be losses for future generations. Perhaps a handful of ministers and others in key positions will see some personal enrichment.

This is the continuing story of our raping the planet and disregarding most of those who occupy it. We barely realise our actual power to do otherwise.

Like precious hardwoods, gems, and other resources, the ilemite leaves the country as a raw material, leaving the population unskilled and the land empty. Until these resources are processed in the country, thus developing the skills of laborers, the country is condemned to the exploitive practices of investors, the World Bank, and Malagasy politicians who do little to require investors to "pay" for their access to resources.