Akora Resources (ASX:AKO) has reported the mining minister of Madagascar, Dr. Olivier Rakotomalala, expressed his support for the company’s Bekisopa iron ore project in late September.
According to Akora, the support was expressed after Akora chief Paul Bibby travelled to Madagascar at the request of Rakotomalala.
“[Madagascar’s government] see AKORA’s high-grade Bekisopa iron ore project being a key project for Madagascar with near term development potential,” the company wrote on Tuesday.
According to the company, both parties are even discussing a fast track towards Final Investment Decision (FID.)
“With the Pre-Feasibility Study (PFS) due for completion and then announced in early 2025, the main points of interest and discussion related to the preparation and shipping of a trial / bulk representative iron ore sample for Value in Use testing by major steelmakers,” Akora wrote.
That meeting came on the back of a mining conference in Perth held earlier that month showcasing a number of African countries jurisdictional benefits to local explorers and miners.
Management was even more elaborative.
“During our meetings the department confirmed it was open and welcoming to foreign business and would continue to work closely with AKORA to ensure the Bekisopa Project received appropriate support,” Akora chief Paul Bibby said on Tuesday.
“Akora…welcomes this progress and support.”
The news stands in sharp contrast to West African Resources’ Monday news that it might be facing a situation where the Junta chief of Burkina Faso moves, in a not entirely rare African fashion, to remove foreign miners’ permits.
AKO last traded at 14cps.
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