Premier African Minerals Updates on Zulu Lithium Project

On 18 June, Premier African Minerals Limited announced progress on its Zulu Lithium Project in Zimbabwe, emphasizing that the conditioning tank delivery and commissioning remain on track for completion by the week of 10 July 2024. The company plans to sell lower-grade concentrates on an ex-mine gate basis, conditional on independent lab analysis in South Africa. This move will eliminate transport costs and provide immediate payment, offering a small cash flow benefit.

CEO George Roach highlighted that the Zulu project has cost nearly $75 million, which is not yet reflected in the company's market capitalization. The plant has achieved design capacity, optimizing flotation circuits and solving previous design deficiencies. The installation of a new ball mill and the resolution of comminution circuit issues have led to improved production efficiency.

The Zulu project continues pit development and careful water management to mitigate drought impacts. Test work for ore sorting is underway, and pit grades exceed initial estimates. The company will provide a detailed review in its upcoming annual financial statements.

Author: Hongqiu Su | Battery Metals Analyst Associate | London Office, Shanghai Metals Market
Email: lilysu@smm.cn