Australia-listed Arrow Minerals has suspended all project-based activities and cut corporate costs as uncertainty over the status of its exploration permits in Guinea continues to weigh on the company.

Arrow’s shares have been in voluntary suspension since May, following media reports that certain exploration licences – including those covering Arrow’s Niagara bauxite and Simandou North iron projects – could be cancelled. While the company has yet to receive formal notification from the Guinean government, it remains in discussions with the Ministry of Mines and Geology and other authorities to clarify the situation.

“In light of the uncertain regulatory environment, Arrow has prioritised capital preservation by suspending all project-based activities, reducing corporate costs, and maintaining active engagement with relevant Guinean stakeholders,” the company said on Monday.

During the six months ended June 30, Arrow advanced exploration and development activities at Niagara and Simandou North, with drilling at Niagara confirming continuity of high-grade mineralisation sufficient to support a maiden mineral resource. A scoping study led by SRK Consulting has been completed, but results will only be released once the permit status is confirmed.

Simandou North, which lies immediately north of the world-class Simandou iron-ore development, has been the subject of mapping, sampling and metallurgical testwork. Scoping work on a processing plant has been finalised, with preliminary capital and operating costs for producing a high-grade hematite fines product now in hand.

Arrow has previously announced a nonbinding memorandum of understanding with Baosteel Resources, a subsidiary of Baowu Group, covering potential future iron-ore sales from Simandou North.

The company said it remained confident in the quality of its Guinean projects, but further progress depended on resolution of tenement status with the government.