|
Shares in Keras Resources PLC rose 15% on Friday after it confirmed a major step forward for its Nayega manganese project in northern Togo, including the award of an exploitation permit and the signing of an offtake agreement for initial production. The Surrey, England-based mine developer focused on West Africa and the US said that Societe Togolaise de Manganese, Togo’s state-owned investment firm, has secured the necessary mining permit, allowing full-scale operations to begin at Nayega. The company also announced that STM has awarded a mining and logistics contract to Carrieres Mines Travaux Publics SA and signed a sales deal with Fujax Group for the first 400,000 tonnes of manganese ore. Under a 2023 cooperation agreement, Keras is entitled to advisory and brokerage fees linked to Nayega’s output. The company said the resulting cashflow will help support its US-based phosphate operations, including the Diamond Creek mine in Utah. ‘We look forward to further information related to the mobilisation of CMTP and on the re-development of Nayega,’ said Interim Executive Chair Russell Lamming. ‘The cashflow due under the cooperation agreement will underpin the progress and associated cashflows from the US operations.’ Keras shares closed up 15% at 1.49 pence in London on Friday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
