Keras Resources plc, an AIM listed mineral resource company, has announced that its 85% owned subsidiary Société Générale de Mines (SGM) has received a notification of a decree from a meeting of the Council of Ministers of the Republic of Togo, permitting SGM to undertake large scale mining at the Nayega manganese project in northern Togo.
Keras anticipates that the all documentation related to the exploitation permit will be signed by SGM and Keras during the course of the current week and a full announcement of the terms of the permit and the underlying protocols will be made immediately after signature.
Russell Lamming, CEO of Keras, commented: “This is great news for the future of Keras, and a major milestone for the company. Our strategy of proving up the Project through the fully funded 10 000 t bulk sampling programme has been validated, and the installed processing capacity allows us to commence production of beneficiated 38% manganese ore at a rate of 6500 tpm without investing any further capital.”