JOHANNESBURG (miningweekly.com) – Multicommodity mining and natural resources development company Premier African Minerals will sell its 52% interest in TCT Industrias Florestais (TCT IF), which principally owns a limestone deposit and forestry interests, in Mozambique, to Amire Glory.
Aim-listed Premier will retain a 50% interest in the limestone deposit, which is of continuing interest to the company, but still at the initial stages of exploration.
Premier in August said it was reviewing possible partnerships or the sale of its stake in TCT IF’s forestry interests. Premier’s board does not believe the forestry interests are material in the ongoing development and strategy of the company.
Over the course of this year, the company has become increasingly focused on the exploration and development of its Zulu lithium and tantalum asset and bringing its RHA tungsten project into sustainable ongoing production. Both assets are located in Zimbabwe.
In addition, Premier has increased its strategic interest in Circum Minerals, which owns the Danakil potash project, in Ethiopia.