JOHANNESBURG (miningweekly.com) – Emerging tungsten producer Premier African Minerals has appointed London-based financial consultant Brandon Hill Capital as financial adviser to assist the company with regards to the funding and development of the Zimbabwe-based RHA tungsten mine, in which Premier has a 49% interest and is the operator.
CEO George Roach said on Friday that Brandon Hill was “widely recognised in the investment community for providing financial advice on transactions”.
This comes as Zimbabwe has ratified amendments to the Indigenisation and Economic Empowerment Act, removing the stipulation that prevented foreign entities from holding majority stakes for all types of mining, except diamond and platinum mines.
Roach said that the changes to Zimbabwe’s indigenisation legislation “strongly reaffirm” that the country is open for business.
“Premier finds itself very favourably positioned to advance its well-established profile of exploration assets in Zimbabwe,” he said.
In addition, Roach noted that a major procedural hurdle in the ongoing discussions with Premier’s joint venture partner, the National Indigenisation and Economic Empowerment Fund had also been removed.