Premier African Minerals Ltd

Premier African Minerals says RHA mine now a priority for Zimbabwe government

RHA is now considered a priority project for the country’s government, Premier African added.

tungsten drill
Premier needs funds from the Zimbabwe government to get RHA up and running again

Premier African Minerals Limited (LON:PREM) says Zimbabwe's electricity company ZESA has started work to electrify the RHA tungsten mine ahead of a possible re-start of production.

RHA is now considered a priority project for the country’s government, Premier African added.

George Roach, chief executive, said: "We believe the value of the in-country funds provided by the Zimbabwe Government to support this project has still been generally misunderstood.

"For example, the Zimbabwe Electricity Supply Authority has now quoted to electrify the mine at a price which is only approximately 30% greater in RTGS dollars than the original quotation that was denominated in US$. 

"And, approximately RTGS dollars 1 million has the ability to discharge debts of RHA previously incurred in Zimbabwe of approximately US$1million."

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Premier African CEO would be disappointed if RHA not producing this year

George Roach, Premier African Minerals PLC’s (LON:PREM) chief executive remain confident that the US$6mln earmarked by the Zimbabwe government to re-start the RHA tungsten mine will be forthcoming. Once the money comes through he is confident RHA can be back in operation within 100...

on 7/6/19

2 min read