Zim government secures $6m investment for RHA tungsten project

13th March 2019 By: Marleny Arnoldi - Deputy Editor Online

Aim-listed Premier African Minerals says it has received notice from the Zimbabwe Ministry of Industry, Commerce and Enterprise Development that is has secured a proposed investment of $6-million for the RHA Tungsten project being developed by Premier.

The funds will be used for the recommissioning of mining operations, subject to the completion of necessary agreements.

Further, Zimdiv Holdings, which is a wholly-owned subsidiary of Premier and which manages the RHA mine, will be awarded another management agreement on similar terms to the current management agreement which was entered into in September 2013.

The company will provide further updates once the agreements have been signed.