Shares in Cora Gold Ltd (AIM:CORA) jumped 33% in early trading on Monday after the Malian government announced it would partially lift its moratorium on mining permits.
The freeze, imposed in late 2022, had put a halt to new mining titles and transfers, creating uncertainty for companies operating in the country.
From 15 March, Mali’s mining authorities will start processing applications for permit renewals, transitions from exploration to mining, and transfers of existing operating permits. However, the suspension remains in place for new mining titles and exploration permit transfers.
For Cora, this is a major breakthrough. The company’s flagship Sanankoro Gold Project in southern Mali had been stuck in limbo, unable to advance permitting.
Now, with a permit re-drawing exercise completed, Cora plans to apply for a mining permit covering key parts of its Sanankoro licence area. The aim is to fast-track development of an open-pit oxide gold mine as soon as possible.
The stock was up 1.3p at 4.13p.