AKORA Resources Secures Bekisopa Tenement Renewal in Boost for Madagascar Iron Ore Development

Highlights

• AKORA Resources has received renewal for the main Bekisopa iron ore tenement in Madagascar

• The PR10430 renewal marks the first such approval under Madagascar’s updated mining code

• Additional renewals and permit transformation applications are planned for later this year

AKORA Resources (ASX:AKO) operates in the iron ore sector and has reported a significant development regarding its direct shipping ore project in Madagascar. The company announced that the Madagascan Mining Ministry has approved the renewal of its primary exploration tenement, advancing its long-term plans for the Bekisopa project. This development comes as part of Madagascar's renewed focus on reforming and modernising its mining framework, which is being shaped by updates to the national mining code.

Tenement PR10430 Receives First Renewal Under Updated Framework

The tenement PR10430, located within the southern part of the Bekisopa project area, has been officially renewed, making it the first permit in the country to be granted under the revised regulatory process. This approval follows the implementation of new procedural standards introduced by the Madagascan authorities and is seen as a key regulatory advancement for the domestic mining industry. The renewal provides a clear framework for AKORA to proceed with the formal transition of the tenement into a mining permit.

Company Plans Further Applications

In addition to PR10430, AKORA Resources has initiated the renewal application for another tenement, identified as PRE3757, which lies in the northern segment of the Bekisopa project area. The company has stated that further applications for the renewal of additional tenements in its portfolio are expected to be submitted over the course of the year. These steps are aligned with the company’s strategy to consolidate its exploration footprint in Madagascar and progress toward a more advanced development stage.

Supportive Policy Environment Enhances Project Timeline

The recent changes in Madagascar’s mining administration, which include a revised code and new implementation mechanisms, are reported to be supported by broader initiatives involving international institutions. These updates aim to streamline the permitting process and enhance transparency in mineral resource management. The renewal granted to AKORA Resources reflects the new procedural momentum, as the government continues its plan to process a large number of renewals under the updated regulations.

Focus on Direct Shipping Iron Ore

The Bekisopa project is focused on the development of direct shipping iron ore, which typically requires minimal processing before export. This form of iron ore can often support quicker development timelines due to its naturally high-grade composition. AKORA’s renewed tenement allows the continuation of activities needed to transition the site from exploration to a future production phase, pending necessary approvals and compliance steps.

Strategic Positioning in the Iron Ore Market

With its assets located in Madagascar, AKORA Resources is working to position itself within a region that is attracting attention due to its untapped mineral resources and evolving regulatory landscape. The renewal of PR10430 enables the company to maintain continuity in its work program and aligns with broader government efforts to reinvigorate the mining sector. This development is viewed within the context of an improving administrative environment that seeks to encourage long-term resource projects.

Next Steps for Permit Transformation

Following the renewal, AKORA Resources plans to complete the administrative requirements necessary for the transformation of the PR10430 tenement into a mining permit. This step represents a formal progression from exploration to project development and will involve further engagements with regulatory authorities. The transformation application will be submitted as part of the company’s strategy to align with the updated mining code and ensure compliance with the new framework governing mineral exploitation in Madagascar.