InvestSMART

AKORA Resources Limited (ASX:AKO)

ALERT: Price-sensitive ASX Announcement for AKO
Current share price for AKO : $0.083 0.002 (2.47%)+
Announcement
Release
26 Nov 2025 9:02AM
Price at Release
$0.081
Full Release
download
Summary
AKORA Resources Limited has successfully lodged an application to convert the Bekisopa Iron Ore Project's Exploration Licence into a Mining Licence with the appropriate Malagasy authorities. This marks a significant advancement for the project, capitalizing on recent political reforms in Madagascar that have fostered a business-friendly climate. The project, backed by a Pre-Feasibility Study completed in March 2025, aims to transition from a Direct Shipping Ore project to a high-grade iron ore concentrate operation, targeting an exploration volume of 500 million to 1 billion tonnes. The submission complies with the updated Mining Code introduced in 2023 and is seen as pivotal in facilitating economic growth for the region.
Key Points
  • AKORA Resources Limited has lodged an application to convert the Bekisopa Iron Ore Project Exploration Licence to a Mining Licence.
  • This application is a significant step forward for the Bekisopa Project in Madagascar.
  • The political changes in Madagascar have created a more supportive environment for business.
  • The Bekisopa project is supported by a comprehensive Pre-Feasibility Study completed in March 2025.
  • Bekisopa's development aims to move from a Direct Shipping Ore project to a high-grade iron ore concentrate operation.
  • The project has an exploration target of 500 million to 1 billion tonnes.
  • The mining licence application is aligned with Madagascar's new Mining Code legislated in October 2023.
  • AKORA is committed to partnering with the government and local communities to accelerate development.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.