URU Metals Reaches Regulatory Milestone in Path Toward Mining Right

 

URU Metals Limited (LSE:URU) has announced a key step forward in its efforts to secure a mining right in South Africa. Its subsidiary, Lesego Platinum Uitloop (Pty) Ltd, has initiated a share issuance process to meet the ownership requirements set out in South Africa’s Mining Charter III. This development represents an important regulatory milestone that brings the company closer to receiving formal mining approval from the Department of Mineral Resources and Energy.

The mining right would allow URU to advance its exploration plans, which include an infill drilling campaign and the declaration of an initial mineral resource targeting high-grade nickel and platinum group elements. The move underscores URU’s commitment to regulatory compliance, local community involvement, and long-term stakeholder value creation.

Despite these positive steps, the company continues to face serious financial challenges. URU currently has no revenue and is operating at a loss, which has weighed heavily on investor sentiment. Although recent corporate actions, such as share restructuring and financing efforts, provide some cautious optimism, they have yet to fully counterbalance the company’s ongoing financial pressures.

About URU Metals

URU Metals Limited is engaged in the exploration and development of critical metals, with a focus on high-value projects in South Africa. The company emphasizes responsible mining practices, regulatory alignment, and community partnerships as it seeks to unlock long-term potential in the energy transition minerals space.

• Year-to-Date Share Performance: -25.00%

• Average Daily Trading Volume: 347,312

• Technical Sentiment: Buy Signal

• Market Capitalization: £2.3 million

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