Premier signs RHA tungsten offtake MoU
JOHANNESBURG (miningweekly.com) – Aim-listed multicommodity company Premier African Minerals has entered into a nonbinding memorandum of understanding (MoU) with an offtake partner, which would acquire tungsten from Premier’s 49%-owned RHA tungsten project, in the Kamativi tin belt, in Zimbabwe.
The MoU outlined the basis of cooperation between the parties to negotiate the detailed terms and conditions of an offtake agreement for a proportion of tungsten concentrate or other tungsten material from RHA for a minimum period to be defined, subject to price and product specifications.
"The signing of our first offtake MoU is a key development for the commercialisation of RHA,” Premier CEO George Roach commented in a statement on Monday.
The MoU would remain in effect for two months and the parties were working to finalise an offtake agreement, the mining company said.
Meanwhile, Premier also reported that additional drilling of Lode 2A of the RHA project, as recommended in the preliminary economic assessment, had started and was expected to be completed by the end of this month.
To date, three of the planned thirteen holes had been completed, geological logging was proceeding in preparation for cutting and sampling of the mineralised intersections, and quartz veins with visible tungsten mineralisation in the form of coarse grained wolframite had been intersected in all three holes with logging indicating a correlation with previously identified and assayed mineralisation intersected in previous drilling.
SGS South Africa had also been commissioned to undertake mineralogical and metallurgical testwork on the drill samples obtained from Lode 2A. This work would be used to refine the metallurgical design and to further the finalisation of the offtake agreement, Premier said.
“Our objective for the current drilling at RHA is to upgrade both the quantity and the quality of the code-compliant resource; basically from inferred and indicated to indicated and measured. We are continuing to assess financing alternatives for the construction of RHA," Roach added.
Premier also intended to, early in 2014, exercise an option to acquire the remaining 40 RHA mineral claim blocks it did not already own, and was in negotiations to acquire additional tungsten deposits in Zimbabwe.
Further, the company stated that a comprehensive review of its Togo properties and those held by AgriMinco Corp, in which Premier held a 42% interest, had been undertaken and additional, highly prospective areas have been identified.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation