Mali’s Council of Ministers has approved the first interim renewal of the Sanankoro II exploration permit, a key step in advancing Cora Gold’s (AIM: CORA) Sanankoro Gold Project in southern Mali.
The renewal follows a permit reshaping initiative aimed at consolidating mining infrastructure under a single permit area. Cora’s Chief Executive Officer Bert Monro stated the approval is a significant milestone toward securing a mining permit for Sanankoro, adding that renewed permits will enable the company to complete its reshaping exercise and progress an application for a 100 square kilometer mining permit.
The Sanankoro Gold Project comprises five contiguous permits within the Yanfolila Gold Belt, covering 84.11 square kilometers under the current exploration permit. Cora holds additional permits at Bokoro II and Kodiou, which remain subject to renewal amid a broader permit reshaping process.
The approval comes after Mali partially lifted a 2022 moratorium on mining permits in March 2025, allowing the administration to process renewals and transitions from exploration to mining. However, applications for new permits and exploration permit transfers remain suspended.
Cora is concurrently advancing Front-End Engineering Design work and a drilling program targeting deposit extensions and near-mine targets. The company secured $120 million in gold stream financing in April 2026 to fund development through to production. The Sanankoro project’s Probable Reserve stands at 531,000 ounces at 1.13 grams per ton.
The Sanankoro II exploration permit was originally awarded on March 2, 2021, and its first renewal marks progress in a sector reshaping effort that could streamline permitting for gold projects in Mali.
