RHA tungsten project on course

catBusiness Reporter
MULTI-commodity resource development firm, Premier African Minerals Limited is confident it will meet next month’s first production target at its flagship RHA tungsten project in Zimbabwe after completing the process for appropriate technology shipment into the country.

The process plant to be installed at the plant in Hwange District has been completed and is ready to be transported to the site for assembly, the company said on Tuesday.

Group chief executive officer George Roach confirmed that necessary conditions for the release of the second tranche from the financing announced last week (April 28) to the tune of £750,000, have been met and the funds will be released to Premier this week.

Premier is the operator of RHA and holds a 49 percent stake in the venture in line with the country’s indigenisation regulations.

“We’ve achieved another milestone today with completion of the process plant and commencement of packing in preparation for the shipment of the plant to site for assembly and commissioning. At this time, we remain on target for first production in June 2015,” said Roach.

A few weeks ago the Environmental Management Agency (EMA) granted Premier African Minerals permission to operationalise its tungsten project in the Hwange area following approval of its Environmental Impact Assessment (EIA).

Production at the project, which is being developed at a cost of $4.15 million and is set to create more jobs for locals, is set to start in June.

The RHA project is expected to process 8,000 t/m of run-of-mine ore and produce, on average, 92t/m of concentrate at 63 percent tungsten trioxide over a 22-month period.

The AIM listed multi-commodity natural resource company with mineral projects across Southern and Western Africa, said its team was working closely with EMA and the granting of this permission to operate on time and under budget further demonstrates the commitment of both the National Indigenisation and Economic Empowerment Board and their partners in ensuring the project was a success.

Premier is a multi-commodity exploration and development company focused in Southern and Western Africa.

The company has a diverse portfolio of projects, which includes tungsten, rare earth elements, gold, lithium and tantalum in Zimbabwe and Togo, encompassing brownfield projects with near -term production potential to grass roots exploration.

The giant conglomerate also holds two million shares in Circum Minerals Limited (Circum), the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset.

At present those shares are valued at $2.5 million based on the latest price at which Circum has accepted subscriptions.

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