Akora Resources Limited (ASX: AKO) is an exploration company engaged in the exploration and development of the Bekisopa, Satrokala, Tratramarina and Ambodilafa Projects, all iron ore prospects in Madagascar where the company holds 308km2 of tenements across these four prospective exploration areas.
The Company’s flagship Bekisopa Iron Ore Project has a 194.7 million tonne (mt) Inferred JORC Resource with very low impurities able to produce a premium-priced +68% Fe concentrate. Direct Reduced Iron-Electric Arc Furnace (DRI-EAF) technology which is used to make greener steel without coal and considerably less carbon emissions requires iron ore grades of at least 67%.
To generate cash in the near-term, AKORA is advancing plans at Bekisopa to produce up to 2Mt per annum over the first five years of a 60% Fe average grade direct shipping ore (DSO) for shipping to Blast Furnace-Basic Oxygen Furnace (BF-BOF) steelmakers.
Rio Tinto and the Sumitomo-Korea Resources-SNC-Lavalin consortium are the largest investors in the mining sector in Madagascar with the 2006 Fort Dauphin mineral sands and 2010 Ambatovy laterite nickel developments respectively. Both are large scale long life operations which required in-country investments of approximately US$900 million and US$7.0 billion respectively.
+61 (0) 419 449 833
12 Anderson Street, West Ballarat
Victoria, Australia 3350
PO Box 28, Ballarat
Victoria, Australia 3353
ACN 139 847 555