Tungsten West PLC (AIM:TUN, OTC:TNGWF) shares jumped 30% as the Devon-based miner confirmed it had received approval from the Environment Agency to operate the processing plant at its Hemerdon mine near Plymouth.
This is the last key approval required to restart operations and is a gateway to securing finance for the project, said the miner.
Alistair Stobie, Tungsten’s CFO and interim chief executive, said: "The issuing of the permit to operate the mineral processing facility is another significant step in derisking the recommencement of production at Hemerdon.
"It allows the company to progress its financing discussions and fast-track its updated Feasibility Study, to restart operations in 2026."
Shares rose 1.25p to 5.5p.