Clean the exterior of the fireplace thoroughly with a mixture of water and liquid dish soap. Remove stubborn dirt or stains with a nylon scrub brush or steel wool for metal surrounds. Rinse the fireplace so that no soap or other residue remains and let it dry overnight.
Apply a concrete bonding agent all over the surrounding fireplace surface with a paintbrush or paint roller, taking care not to miss any areas. Keep the application level and even and do not apply so much that the product rolls or drips.
Mix together the stucco powder and the correct amount of water with a shovel in a plastic bucket. Consult your stucco product's packaging to add the water, since this often varies by brand. Stir the stucco until it is just a bit thinner than ordinary toothpaste.
Cover the entire surround of the fireplace with a thin layer of stucco, using a metal trowel. Build up the product so that the surface of the fireplace is fairly even and not bumpy, but do not make it too thick. Use the flat of the trowel to level and smooth the stucco. Let the stucco set up for 30 minutes.
Hold a notched metal trowel at a 45-degree angle and pull it horizontally across the surface of the stucco in straight lines. Work from top to bottom.
Apply a second layer of stucco approximately ½ inch thick, using a flat metal trowel. Swirl and texture the stucco with the edge of the trowel for a classic texture or smooth the surface again for a sleeker finish. Let the stucco dry at least three days before using the fireplace.