JOHANNESBURG (miningweekly.com) – Aim-listed Premier African Minerals has received a further $1-million from Circum Minerals in relation to the disposal of its interest in the Danakil potash project, in Ethiopia.
Premier, in May, acquired Mandalore Development, which held a 30% stake in the Danakil project, from AgriMinco.
It then agreed to sell Mandalore’s stake in the project to codeveloper Circum Minerals for two-million Circum shares and $4-million to be paid in tranches of $1-million.
A final $1-million payment was due on January 15.