Melbourne-based mineral exploration company AKORA Resources (ASX:AKO) reports the Malagasy (Madagascar) Council of Ministers has approved the Ministry of Mines and Strategic Resources to resume processing applications for all mining permits.
The company reports permits including PRE’s (small-scale mining licences), PR’s (exploration licences), and PE’s (mining exploration licences), currently pending with the Mining Cadastre Office of Madagascar (BCMM) will be processed.
The status of the Extractive Industries Transparency Initiative (EITI) in Madagascar was also upgraded under the technical supervision of the Ministry of Mines and Strategic Resources, and supervision of the Ministry of Economics and Finance.
AKORA reports EITI’s changed legal status affirms the Malagasy government’s commitment to global standards, improved transparency, and accountability in the mining sector.
Commenting on the approvals, AKORA Resources Managing Director, Paul Bibby, says: “AKORA is pleased this positive action by the Malagasy government has been taken. We were confident that this would happen and now we are even more encouraged to progress our work programs at Bekisopa, Satrokala, and Tratramarina.
“AKORA’s tenements are in good standing, and we will work with the Malagasy Mining Ministry and the BCMM to ensure they are processed”
AKORA’s tenements are in good standing, and we will work with the Malagasy Mining Ministry and the BCMM to ensure they are processed.”
AKORA reports 12 tenements are all with the BCMM and all annual administration fees have been paid up to date. The company says it has 3 PRE’s, including tenement PRE 3757 on Bekisopa’s main strike, and 9 PR’s, including tenement PR 10430 which is the main Bekisopa project tenement.
AKORA Resources is an ASX-listed exploration company focused on its Bekisopa, Satrokala, Tratramarina, and Ambodilafa iron ore projects in Madagascar.
The company reports the Bekisopa Iron Ore Project is a ‘high-grade’ iron ore project covering a strike length of about 6km, and an inferred resource of 194.7 million tonnes. The project has outcropping and weathered zone direct shipping ore (DSO) iron ore and potential to produce a premium grade of more than 68% iron concentrate suitable for direct reduced iron pellets for the green steel future.
Images: AKORA Resources Ltd
