Premier spends US$75m on lithium plant

RESOURCE outfit Premier African Minerals has invested approximately US$75 million in the development of the Zulu lithium and tantalum project, located near Bulawayo, according to chief executive officer George Roach.

The mining firm, with a diverse portfolio of projects in Zimbabwe and Mozambique, is currently finalising the installation of a flotation plant at the Zulu project.

“Premier sincerely hope the conditioning tank will be the last plant modification and on that note, the board remains confident regarding the prospects for Zulu and we note that at this time, the development of Zulu, a complete mine, has cost the company the better part of US$75 million and neither this nor the deemed valuation of Zulu agreed with our take-off partner is reflected in our current market capitalisation,” Roach said in a market update.

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