AKORA Secures Government Support to Upgrade Bekisopa Licence, Unlocking 195Mt Resource
AKORA Resources has secured strong endorsement from Madagascar’s new government to upgrade its Bekisopa iron ore project licence from exploration to mining, paving the way for project advancement and investment.
- Madagascar government supports Bekisopa licence upgrade
- Meetings with senior officials confirm strategic importance
- Mining licence issuance pathway reopened after years of hold
- Bekisopa project targets near-term DSO production and long-term concentrate
- Government highlights economic and social benefits for Madagascar
Government Endorsement Signals New Momentum
AKORA Resources Limited (ASX, AKO) has received a significant boost from Madagascar’s new political leadership, with senior government officials expressing strong support for the transition of the Bekisopa iron ore project licence from exploration to mining. This endorsement, confirmed during recent meetings between AKORA’s Managing Director Peter Bird and key Malagasy leaders, marks a pivotal moment for the company and the project’s future.
His Excellency Colonel Lucien Rabearimanana, High Advisor for the Reform overseeing strategic resources, and Mines Minister Carl Andriamparany both welcomed AKORA’s commitment and progress. They highlighted the project’s potential to deliver substantial economic and social benefits to Madagascar, emphasizing the importance of responsible resource development and international partnerships, particularly with Australia.
Unlocking Value Through Licence Upgrade
The issuance of mining licences in Madagascar had been stalled for several years, constraining development across the country’s mining sector. The new administration’s decision to reopen the pathway for licence applications is a clear signal of intent to accelerate resource development and economic growth. For AKORA, securing the mining licence is a critical milestone that will unlock the next phase of value creation.
With the licence upgrade, AKORA can advance strategic investment discussions, progress detailed development planning including a feasibility study, and deepen community engagement. The Bekisopa project, which holds an inferred resource of nearly 195 million tonnes of high-grade iron ore, is positioned to deliver near-term direct shipping ore production and potentially evolve into a large-scale, generational iron ore concentrate operation.
Strategic and Social Implications
The Bekisopa project’s significance extends beyond its mineral wealth. Madagascar’s leaders have underscored the project’s role in fostering economic development and social upliftment. The collaboration between AKORA and the Malagasy government exemplifies a forward-looking approach to resource development, balancing commercial objectives with national prosperity.
AKORA’s Managing Director Peter Bird described the government’s support as “immensely powerful recognition and validation” of the project’s scale and value. He noted the alignment between the company’s strategic vision and Madagascar’s renewed focus on mining as a driver of prosperity.
Looking Ahead
As AKORA awaits the formal grant of the mining licence, the company is well positioned to accelerate its development plans. The next steps will likely include finalising the feasibility study, securing financing, and advancing community initiatives. The project’s progress will be closely watched by investors and stakeholders eager to see how this endorsement translates into tangible outcomes.
Bottom Line?
With government backing secured, AKORA’s Bekisopa project is poised to move from promise to production, but the licence grant remains the key next hurdle.
Questions in the middle?
- When will the official mining licence be granted to AKORA?
- What are the detailed timelines and capital requirements for the feasibility study and development?
- How will AKORA manage community and environmental expectations as the project advances?
