AKORA Files for Bekisopa Mining Licence After Completing Pre-Feasibility Study

A Major Milestone for Bekisopa

AKORA Resources Limited (ASX – AKO) has formally submitted its application to convert the Bekisopa Iron Ore Project’s exploration licence into a mining licence with Madagascar’s Bureau du Cadastre Minier and Ministry of Mines. This move marks a significant progression for the company’s flagship project, following the completion of a detailed Pre-Feasibility Study (PFS) earlier this year.

The Bekisopa project, located in south-central Madagascar, is positioned to become a key contributor to the country’s mining sector and economic growth. The PFS outlined a straightforward, low-cost Stage One operation focused on high-grade Direct Shipping Ore (DSO), designed to generate near-term cash flow and establish a foundation for future expansion.

Political Winds Shift in Madagascar

Recent political developments have played a crucial role in advancing the project. The appointment of Prime Minister Rajaonarivelo and President Colonel Randrianirina, along with a proactive new Minister of Mines, has led to a more supportive and streamlined regulatory environment. This shift has reopened administrative pathways that had previously stalled mining licence applications, boosting investor confidence and enabling companies like AKORA to move forward.

AKORA’s Managing Director, Peter Bird, emphasized the importance of these changes, noting that the government’s openness and reforms provide an ideal backdrop for accelerating the Bekisopa project’s development and unlocking its full potential.

Unlocking Long-Term Value

The mining licence application satisfies all key prerequisites under Madagascar’s new Mining Code, including up-to-date exploration commitments, environmental approvals, and a JORC-compliant resource estimate. Bekisopa’s resource base currently stands at nearly 195 million tonnes of inferred high-grade iron ore, with an exploration target ranging between 500 million and 1 billion tonnes, suggesting significant upside potential.

While Stage One focuses on producing approximately 2 million tonnes per annum of DSO over an initial six-year mine life, the project’s long-term vision contemplates a generational-scale iron ore concentrate operation. This two-stage development strategy could position Bekisopa as a cornerstone of Madagascar’s mining industry and a supplier of premium-grade iron ore suitable for greener steelmaking technologies.

Next Steps and Market Implications

Securing the mining licence will be a critical catalyst for AKORA, enabling the company to finalize financing arrangements with strategic investors and advance detailed feasibility studies. It will also facilitate deeper community engagement and infrastructure planning, essential for sustainable project development.

However, some regulatory and administrative processes remain outstanding, and the timeline for licence approval is yet to be confirmed. Investors will be watching closely as AKORA navigates these next phases amid Madagascar’s evolving political and regulatory landscape.