London-listed diversified metals producer Xtract Resources’ shares rose by more than 88% on Wednesday after it announced the conclusion of a collaboration agreement with Mutupa Mining and Processing (MMP) for mining and mineral processing of the company’s Manica hard rock gold deposits, in Mozambique.
MMP will also work with JSE-listed chemicals specialist Omnia’s mining division on the various gold-bearing mineral deposits on Xtract’s mining concession in the country.