Southern Palladium (ASX:SPD) confirmed that its mining right application for the Bengwenyama platinum group metals project was formally granted by the South African Department of Mineral and Petroleum Resources, according to a Monday Australian bourse filing.
The right is granted for an initial period of 30 years, after which it is entitled to apply for a renewal.
Its board approved the commencement of early box-cut and decline development before the end of the year, subject to completion of the relevant waste management and water use permitting processes.
Its shares climbed 20% in recent trading on Monday.
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