Mining giant Ambatovy has just announced the gradual resumption of its nickel and cobalt production in Madagascar, after a three-and-a-half-month shutdown due to the damage caused by Cyclone Gezani. This restart comes in a global context marked by a sharp increase in supply, particularly from Indonesia, and by the withdrawal of its long-standing shareholder in May.

In a message posted on LinkedIn, the mining company Ambatovy announced the restart of its processing site after several months of efforts to restore it. Cyclone Gezani had severely damaged several of its facilities in February 2026.

The statement also specifies that the first metal production runs are "expected soon." The company emphasizes a "safe and disciplined" recovery led by its teams. Ambatovy has experienced technical slowdowns in the past, but never ones this long.

Strong Indonesian competition

This restart comes at a time when the global nickel market is characterized by overproduction. Indonesia, the world's leading producer, has significantly increased its volumes. And metal prices remain low, putting high-cost producers at a disadvantage.

It is also in this context that the Japanese company Sumitomo officially announced its withdrawal from Ambatovy's capital in May after years of operational and financial difficulties. Having joined the group in 2005, the Japanese giant had become the majority shareholder in 2015. Sumitomo sold all of its shares to an international consortium.

For Madagascar, Ambatovy remains a key player in mining exports. However, this recovery is now taking place in a more unstable and highly competitive industrial and economic environment.