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Highlights:

  • Premier African Minerals continues second-phase testing at Zulu project plant
  • Company evaluates future spodumene flotation equipment purchase
  • Discussions underway on tantalum circuit funding and offtake interest

Premier African Minerals Limited (AIM: PREM) has provided a further update on commissioning activities at its Zulu Lithium and Tantalum Project in Zimbabwe. The announcement follows the company’s previous communication on 4 August 2025, outlining its progress in plant testing and operational optimisation.

The company has now commenced the second phase of test runs at the Zulu processing facility as scheduled. According to the latest update, changes previously outlined are being implemented, with operational adjustments ongoing. Premier noted that it continues to encounter optimisation and commissioning challenges that are typical for this stage of development. However, incremental improvements are being observed with each step of the process.

Premier also acknowledged the role of technical support from a senior Original Equipment Manufacturer (OEM) team and recently appointed Managing Director, Graham Hill, in progressing the plant commissioning. The combined input is contributing to the current phase of operations and aiding decisions related to further plant development.

One of the key decisions expected in the coming days involves the potential purchase of a secondary spodumene flotation section. Premier stated that it expects to reach a conclusion on this matter within the next seven days, depending on operational findings during the ongoing test phase.

In parallel, work continues on resolving two longer-term plant issues: replacing the OEM-supplied sorters and completing the tantalum recovery circuit. Premier has indicated that the current sorters installed at the site have been deemed unfit for purpose and require replacement. Additionally, plans for the tantalum recovery circuit are advancing, with several external parties reportedly expressing interest in purchasing tantalum from Zulu. These parties may also assist in funding the remaining development of the recovery infrastructure.

The company acknowledged that progress is being made, although specific technical and financial decisions remain subject to ongoing assessment. The CEO, George Roach, commented that the company remains focused on the successful completion of this project phase, though promotional language regarding performance was avoided.

The Zulu Project is Premier African Minerals’ flagship asset, located near Fort Rixon in the Matabeleland North Province of Zimbabwe. It is one of the most advanced lithium projects in the country, with known spodumene and tantalum mineralisation. Premier is listed on the AIM market of the London Stock Exchange under the ticker PREM and is focused on developing a range of mineral assets in Southern and Western Africa.

Premier’s announcement also confirmed that information within the release falls under the scope of the Market Abuse Regulations (EU) No. 596/2014, as retained in UK law. Beaumont Cornish Limited, the company’s nominated adviser, facilitated the regulatory release but did not authorise or verify the content of the announcement.

Further updates are expected as the company moves toward key decisions regarding equipment procurement and funding for additional plant components.

PREM is trading 10.34 % lower at GBX 0.026 per share as of 8 August 2025.