Shares of Australia’s Genmin (ASX:GEN) rise as much as 11.1% to A$0.200, hitting highest level since April 4.

Iron ore miner says company has received final approval from the Minister of Environment in Gabon for the social and environmental impact assessment for the Baniaka iron ore project.

Company has applied for a large-scale mining permit for 5 million tonnes per annum mining operation at Baniaka.

Stock has fallen 7.7% this year as of last close.

Genmin is an iron ore mining company based in Australia.