Madagascar has one of the world's largest reserves of ilmenite (titanium ore), as well as important reserves of chromite, coal, iron, cobalt, copper and nickel. Several major projects are underway in the mining, oil and gas sectors that are anticipated to give a significant boost to the Malagasy economy. These include such projects as ilmenite and zircon mining from heavy mineral sands near Tôlanaro by Rio Tinto, extraction of nickel by the Ambatovy mine near Moramanga and its processing near Toamasina by Sherritt International, and the development of the giant onshore heavy oil deposits at Tsimiroro and Bemolanga by Madagascar Oil.