[SMM News] Premier African Minerals Raises £1.2m to Restart Zulu Lithium Plant in Zimbabwe

Published: Oct 09, 2026 19:22 (GMT+8)

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Premier African Minerals has completed a subscription raising about £1.2 million before expenses through the issue of 27.52 billion new ordinary shares at 0.00436 pence per share. Net proceeds will provide working capital for the planned restart of operations at the Zulu Lithium in Zimbabwe, including the potential remobilization of mining and the restart of the processing plant to resume spodumene concentrate production.

Supply: The company targets an initial operating campaign of about 15 days to assess throughput, recoveries, plant stability, and product quality. About 13,000 mt of ore is available on the ROM pad for this campaign. Personnel, diesel, reagents, and other consumables are being mobilized, and supplier engineers are expected on site to support the spodumene flotation plant. The company will review the campaign results and then determine the next phase. Subject to satisfactory plant performance and working capital, additional blasted ore within its Exclusive Prospecting Order (EPO) may be moved to the ROM pad to support continued processing.

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