Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF)'s shares jumped 17% in the first 30 minutes of trading following the announcement of the approval of the environmental permit for the Inmaculada project in southern Peru.
The official green light allows the company to expand operations at the gold and silver mine, which is a key asset in Hochschild's portfolio.
The expansion is expected to enhance the mine's productivity, supporting the company's growth prospects.
CEO Ignacio Bustamante said the approval and subsequent enhancement of the property would add significant value to the Inmaculada mine.
The permit approval comes at a crucial time for the mining industry, as global demand for precious metals continues to rise.
The shares advanced 12.92p to 89.12p in early morning dealing.