Ferrex (LON:FRX) said it will continue to work closely with the government of Togo to ensure that an exploitation permit is granted for the Nayega manganese project.
In March, after successfully negotiating mining conventions with the government, the AIM quoted company told investors it expected the permit to be awarded during the second quarter.
Today’s statement comes after Togo re-elected incumbent president Faure Gnassingbe through democratic elections. Gnassingbe was sworn into office by the country’s Constitutional Court on Monday May 5.
"I am pleased that the Togolese people have exercised their democratic rights and I would like to congratulate President Gnassingbe and his party on his re-election,” said managing director Dave Reeves.
“This continuity in leadership is a positive for the company, as the government has been very supportive of our plans to develop the Nayega Manganese Project.
“We will continue to work closely with the Government of Togo to ensure the Nayega exploitation permit is granted as soon as possible so we can proceed with development of the project for the mutual benefit of the Togolese people and Ferrex shareholders.
“I look forward to providing updates on this and other matters as information comes to hand."