PhosCo (ASX:PHO) secured the exploration permit for the Sekarna phosphate project in Tunisia for three years, according to a Monday filing with the Australian bourse.

It comes after the grant the of Ras Ghzir exploration permit in April 2024, which overlaps a portion of the project, the filing said.

Work is required to understand the presence of base metals at Sekarna, potentially separating them from phosphate, creating a by-product revenue stream, or forming a standalone project, according to the filing.

Shares rose more than 1% in midday trade Monday.