AKORA Resources Ltd (ASX:AKO) CEO Paul Bibby tells Proactive the company is moving closer to production at its Bekisopa Iron Ore Project in Madagascar, following a promising scoping study. The study indicates the project's capacity to initially produce two million tonnes per year of high-grade direct shipping ore (DSO), with a 64% high-grade iron product in the first year and an average of 61% iron over the initial five years. Over that time, estimated revenue will be US$545 million. This study, prepared by Wardell Armstrong International, focused on a low capex option utilising Bekisopas DSO JORC indicated resource of 4.4 million tonnes hosted in the projects southern zone.
Bekisopas 5.5 million tonnes of indicated and inferred DSO resource from just the southern zone of the project is sufficient to deliver robust project economics from a conservative mining and processing production ramp-up, paying back the start-up capital in two years," Bibby said.
"Notably, this is just the starting position after only three years in the field. More drilling ahead will define additional resources.
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