Shares in the Australian exploration company, Blackstone Minerals (ASX:BSX), have surged as much as 4.2% to A$0.125.

The company has lengthened its partnership with Arca Climate Technologies, with both companies recently signing a Memorandum of Understanding (MOU).

The MOU will explore the potential for carbon capture at the Ta Khoa Project located in the Son La province in Vietnam.

Despite this recent gain, so far this year, the company’s stock has decreased by 11.1% when measured from its last closing price.

Blackstone Minerals is a mineral exploration company focusing on the development of mining projects across various commodities.