Premier halts concentrate shipments for two months to allow for plant builds
London-listed Premier African Minerals has advised that its Zulu lithium and tantalum project, in Zimbabwe, should be at full production in January next year.
The company has been progressing solutions to production delays at the project, including installation of a new ball mill, which will occur in December.
Premier is, however, struggling to build the civil works required for the new mill at the same time as continuing with present operations; therefore, Premier is considering an early cessation of current plant operations with the longer-term goal of production at design capacity not being necessarily delayed.
As a result, the company will not ship concentrates in November and December.
The company has consulted with its offtake and prepayment partner in this regard, who have several options under these circumstances, including an interim payment of $1.5-million in respect of each month when the product commitment is not met.
“Construction of civil works is a major undertaking and timely completion is essential to ensure the company meets its medium- and longer-term goal of production at full design capacity,” Premier explains.
It adds that current mining and pit development operations continue as normal, as well as exploration in the wider region.
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