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African Pioneer PLC on Wednesday said Namibia’s Ministry of Environment & Tourism confirmed the approval of the environmental clearance certificate for the Ongombo copper gold project. African Pioneer shares surged 27% to 1.14 pence each on Wednesday afternoon in London, giving it a market capitalisation of £3.3 million. The natural resource explorer and developer focused on sub-Saharan Africa said the project is located around 40 kilometres north-east of the country’s capital, Windhoek. ‘The approval of the ECC sets in motion the final standard statutory procedures required to activate the previously granted mining licence ML240,’ African Pioneer said. Executive Chair Colin Bird said: ‘The approval of the ECC is an important milestone in the development of the Ongombo project. We look forward to providing further updates as we move towards project development.’ African Pioneer added that it is in advanced talks with parties regarding project level funding that will enable progression of the initial Ongombo open pit to exploit the easily accessible surface ore resources. The announcement came on the same day Bezant Resources PLC announced the approval of the ECC licence for the Hope & Gorob copper-gold project, also by Namibia’s Ministry of Environment & Tourism. Bezant shares were 6.1% higher at 0.026 pence each on Wednesday afternoon in London, for a market capitalisation of £5.0 million. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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