(Alliance News) - Potash miner Emmerson PLC said on Tuesday the consolidation of a range of Moroccan permits into one project permit has been approved.
Emmerson had 21 exploration permits at Khemisset, in the north of the country, but these have now been combined into one permit encompassing the entire area the 21 permits had covered.
The company said this makes it once of the first to achieve this under the country's new mining code, which was implemented in 2015.
Chief Executive Hayden Locke said: "The Moroccan government and, in particular, the Ministry of Energy, Mines & Sustainable Development, continue to offer strong support to Emmerson, providing us with a high degree of confidence in our ability to advance the world class Khemisset potash project forward.
"The consolidation of the permits is the first step for the company in the eventual process to apply for a mining permit over the project. It also assists in reducing the ongoing administrative reporting burden. The Ministry's continued support will be instrumental in the permitting phase and as we develop our social licence to operate in the Khemisset region."
"The feasibility study is progressing very well, and we look forward to releasing the final study in the first half of 2020, which we believe will further confirm the outstanding potential of the Khemisset potash project," Locke added.
Emmerson shares were 2.8% higher on Tuesday shortly before midday in London at 3.72 pence each.
By George Collard; georgecollard@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
Emmerson (EML)