Akora Resources (ASX:AKO) has submitted an application to convert its Bekisopa Iron Ore Project exploration licence into a mining licence in Madagascar, moving the project onto a formal development pathway.
All application prerequisites have been met, including tenement standing, funding and development planning, environmental authorisations and project engineering work.
If granted, the licence allows Akora to progress detailed development planning, including a Feasibility Study, and continue discussions with strategic investors and other funding options. The company says the licence process is expected to run alongside ongoing community programs and regional exploration aimed at growing the broader Bekisopa resource base.
CEO Peter Bird says lodging the application is a key step for Bekisopa and reflects a shift toward a more functional permitting environment in Madagascar.
“Bekisopa remains a project of strategic importance to the nation’s economic growth and we are fully committed to partnering with the government, local government, and the surrounding communities to accelerate development and unlock its full potential,” Bird says.
Bekisopa is located in south-central Madagascar, which has a staged plan starting with a low-capital direct shipping ore operation, then considers a larger concentrate business supported by an exploration target of 500 million to 1 billion tonnes.
For Akora, the near-term focus is securing approval and converting its stage one direct shipping ore plan into a mine-ready schedule, while building the technical case for a longer-life concentrate operation.
The Bekisopa Project hosts an inferred resource of 194.7 million tonnes with the potential to produce a quality direct ship iron ore product and a premium grade 68% iron concentrate.
This content was created with AI assistance and human editing.
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Images: Akora Resources
