Akora’s main exploration tenement in Madagascar renewed
ASX-listed Akora Resources has received formal documentation from the Bureau du Cadastre Minier de Madagascar confirming the renewal of its main exploration tenement, PR10430, at its flagship Bekisopa iron-ore project in the country.
This tenement was among the first 100 tenements to be submitted following the Madagascan government’s roll out of its new mining implementation procedures.
Akora highlights this as a significant milestone for the Madagascan exploration and mining industry, which has been well supported by the World Bank and positive government leadership.
Renewals have been on hold awaiting the update of the Mining Code and supporting Mining Implementation Procedures.
This tenement renewal follows the recent release of the company’s prefeasibility study for a Stage 1 direct shipping ore operation at Bekisopa, which showed a pre-tax net present value of $147-million (A$233-million) and an internal rate of return of 86%.
“We had confidence that the Akora Bekisopa tenements would be renewed. The Madagascan government updated the Mining Code, delivered revised implementation procedures, and is now processing the first 100 tenement renewals.
“It’s a significant step change for the Mines Ministry, which is committed to the expansion of exploration and mining in Madagascar,” Akora MD Paul Bibby says.
“We’re extremely pleased that Bekisopa’s main exploration tenement PR10430 was the first to be renewed under the updated code. This is another major milestone for Akora, and we will now complete the necessary requirements and submit the application for the transformation of PR10430 into a mining permit,” he adds.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
