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(Sharecast News) - Mineral resource company Keras Resources updated the market on progress at the Nayéga Manganese Mine in Northern Togo on Tuesday, which is wholly owned by its 85%-owned subsidiary Société Générale de Mines (SGM).
The AIM-traded firm said its chief executive officer Russell Lamming had recently returned from Lomé, Togo, where he had meetings with key government officials.
They included Mila Aziablé, the minister of mines and energy, and Kayi Mivedor, the minister of the newly-formed Ministry of Investment Promotion, which was focused on "encouraging and enhancing" investment in Togo.
Follow-up meetings were also held with the state-owned Togo Invest Corporation, which was assisting in the permitting process at Nayéga.
"Constructive meetings were undertaken with both the Ministry of Mines and Energy and the Ministry of Investment Promotion during my recent trip to Togo," said Russell Lamming, adding that he expected to get feedback in the near-term on what the pathway to final permitting at Nayéga would comprise.
"I am particularly encouraged with Togo Invest's endorsement of Keras' investment in the country, which marks the start of a constructive collaboration, in tandem with the creation of a Ministry of Investment Promotion by the new Togo Government; both are positive steps for the Nayéga Mine and Keras's further investment.
"I look forward to updating shareholders once we have further information related to permitting at Nayéga."
At 1604 GMT, shares in Keras Resources were down 8.26% at 0.12p.
14 Mar 2016 09:19