On November 26, 2025, AKORA Resources announced a significant milestone as it submitted its application to convert the Bekisopa Iron Ore Project Exploration Licence to a Mining Licence in Madagascar. This move aligns with the new Mining Code implemented in October 2023 and marks a pivotal step for the Project. The political changes in Madagascar have created a more supportive business environment, enhancing investor confidence and growth prospects for the country.

The Bekisopa Direct Shipping Ore (DSO) Iron Ore Project, with a comprehensive Pre-Feasibility Study completed in March 2025, sets the foundation for long-term value creation. The Mining Licence application signifies progress towards a high-grade iron ore concentrate operation, potentially encompassing between 500 million to 1 billion tonnes in resources. AKORA remains committed to sustainable development, community engagement, and partnership with local authorities.

Under the recent political climate in Madagascar, the government's efforts to streamline administrative processes for mining development are promising. AKORA's successful satisfaction of the necessary pre-requisites positions it as the first mining licence applicant under the new leadership, setting a positive outlook for future growth and economic contributions. Investors are encouraged to reach out for further updates and engage in discussions regarding this transformative project.