Akora Resources (ASX:AKO) has received a mining permit for the Bekisopa Direct Shipping Ore (DSO) Iron Ore Project in Madagascar.
The Ministry of Mines issued the permit following the completion of a Prefeasibility Study in March 2025, allowing Akora to progress from exploration activities to development.
In accordance with the local mining code, Akora was granted an initial mining permit term of 25 years.
CEO Peter Bird says this is a “transformational milestone” for the company as it develops the Bekisopa Project.
“This milestone is a major step in unlocking the full potential of Bekisopa, it enables us to accelerate engagement with strategic partners, securing project financing, advance feasibility planning, and expand our community and stakeholder initiatives,” Bird says.
“Bekisopa’s value is immense, starting with the low capital and operating cost direct shipping iron ore operation and potentially growing into a world class, high-grade iron ore operation, underpinned by an exploration target of 500 million to 1 billion tonnes.”
The Prefeasibility Study highlights an initial life of mine of six years with an upfront capital of US$61 million. Bekisopa has a net present value of US$147 million, an internal rate of return of 86%, and US$310 million ($442.80 million) in pre-tax cash flow.
Akora Resources is an Australian resources company focused on developing four iron ore projects in Madagascar.
Write to Maddison Elliott at Mining.com.au
Images: Akora Resources
