LONDON (Alliance News) - Ferrex PLC shares were given a boost in early trade on Thursday after the company said it has been given the environmental permit approval for the Nayega Manganese project in northern Togo.
The environmental permit is a key milestone for the company in securing the mining permit for the site, which it expects to receive by the end of the year.
The company has also received an extension on its prospecting permits after it relinquished half of the area, as per the mining code.
"I am delighted to announce that the environmental permit has been granted for the Nayega manganese project and thank all involved in securing this. The renewal of the exploration permits also shows the support that the company has in Togo and allows us to continue the ongoing exploration programme that is defining new manganese mineralisation outside the main Nayega deposit," said Ferrex Managing Director Dave Reeves.
Ferrex shares were up 15% to 0.89 pence on Thursday, making it one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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