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LONDON - Keras Resources plc (AIM:KRS) has received its first payment under a cooperation agreement with the Republic of Togo following the initial shipment of manganese ore from its Nayéga mine, the company announced Friday.
The Nayéga manganese mine in northern Togo began operations in late July 2025 and is processing ore at an initial rate of 4,000 tonnes per month of saleable manganese. The company plans to increase production to the nameplate capacity of 8,000 tonnes per month after the first three months of operation.
The payment follows the shipment of 2,700 tonnes of ore in containers on September 5, in accordance with the cooperation agreement signed in 2023.
"The first payment under the Cooperation Agreement is a significant milestone for both the Company and Nayéga," said Russell Lamming, Interim Executive Chairman of Keras, in the press release statement.
Keras Resources also operates the Diamond Creek organic rock phosphate mine in Utah, US, which produces organic phosphate products for the fertilizer market.
The company said it would provide further updates on progress at both its Togo and US operations in the near future.
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