Medusa Mining rose after announcing its Philippines operating company had received the necessary environmental permits to operate its new mill.
The firm said its subsidiary, Philsaga Mining, had been granted the Environmental Clearance Certificate for its new Co-O Mill, permitting it to process 2,500 tonnes of ore a day.
Construction of the new Co-O Mill remained on schedule for commencement of operation in mid-2013.
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Medusa's shares were up 2.9% by 1130 on Wednesday.
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