(Alliance News) - Red Rock Resources PLC on Thursday said that it has been granted an environmental certificate for the company's first Zimbabwe project, and can begin mining.
Red Rock shares surged 51% to 0.21 pence per share in London on Thursday afternoon.
The London-based Africa and Australia-focused natural resources development company said that following the March 28 announcement of its progress, the environmental impact assessment has approved the company's production and sale of Zimbabwe-based lithium.
The company noted on March 28 that the environmental impact assessment required a stakeholder and community engagement process; with administrative, technical, and regulatory tasks required for the mining to proceed.
Chair Andrew Bell said: "Zimbabwe is a top ten lithium producer, and the biggest producer in Africa, and is known for its high grade product.
"This is a significant milestone for Red Rock, and we are assessing the financial implications as we test material and delineate further the pegmatites within our licenses."
Red Rock Resources said the transfer of the Boulon licence in Burkina Faso has been completed, and a channel of lithium-bearing leucogranites was identified as running through one of the company's gold licences.
By Will Neill, Alliance News reporter
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Red Rock Resources (RRR)