HomeBusinessPremier, Li3 extend due diligence on lithium project

Premier, Li3 extend due diligence on lithium project

-

PREMIER African Minerals (Premier), which owns RHA Tungsten project in Hwange, has agreed with Lithium Consolidated Ltd (Li3) to extend the due diligence period on the portfolio of hardrock lithium until Friday this week due to continuous interruptions as a result of COVID-19 issues in Zimbabwe.

BY MTHANDAZO NYONI

In June this year, Premier announced the US$104 000 acquisition of a hardrock lithium portfolio based in Zimbabwe and Mozambique from Li3, following the latter’s shift in focus to projects based in Australia.

The acquisition includes 1 500 hectares of licences in Zimbabwe, originally acquired by Li3 in 2018, and a further 100 hectares in the Alto Ligonha Pegmatite Province of Mozambique.

“The board of Premier African Minerals Limited is pleased to provide an update on the conditional sale and purchase agreement to acquire a portfolio of hardrock lithium assets located in Zimbabwe and Mozambique from Lithium Consolidated Ltd as announced on 10 June 2020,” the company said in a recent statement.

“The company and Li3 have agreed to extend the due diligence period on the portfolio of hardrock lithium until 24 July 2020 due to continuous interruptions as a result of COVID-19 issues in Zimbabwe.”

Premier is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe.

The company has a diverse portfolio of projects which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe, encompassing brownfield projects with near-term production potential to grassroots exploration.

It holds 5 010 333 shares in Circum Minerals Limited, the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world-class asset.

In addition, the company holds a 19% interest in MN Holdings Limited, the owner and operator of the Otjozondu Manganese Mining Project in Namibia.

Recent Posts

Stories you will enjoy

Recommended reading