Australian miner AKORA completes financing to advance the Bekisopa iron ore project!

Published: Jul 28, 2026 17:38

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Australian miner AKORA Resources recently announced it has completed a total equity financing of approximately A$3.3 million to support the advancement of the Bekisopa high-grade iron ore project in Madagascar . The first phase of Bekisopa plans to build a production facility with an annual capacity of 2 million mt of direct shipping ore (DSO) at an average iron grade of 61.6%. The company said the funds raised will support project approvals, development preparations, and financing discussions.
AKORA stated that, with the assistance of financial advisor Grant Samuel, it is engaging with potential strategic partners, offtake financiers, and engineering and infrastructure enterprises, including multiple potential partners from China, India, and Eastern Europe, and related work is expected to continue in Q3 2026. The company's management also traveled to Madagascar in May to communicate with the country's mining authorities, local governments in the project area, and local communities regarding project development.

The Bekisopa project is wholly owned by AKORA and has obtained a mining license. The project's inferred resources are 194.7 million mt , at a grade of 32.0% iron ore, with a mine life of 6 years. The project's probable ore reserves are 9.068 million mt at a grade of 53.0% iron ore, with an average strip ratio of 0.52. In the initial stage of the project's first phase, the ore is planned to be transported by road to Toliara port for export. Phase two proposes to develop and build grinding and magnetic separation facilities to produce low-impurity iron ore concentrates with a grade above 67%.

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