UNITED Kingdom: London-listed Premier African Minerals’ 49%-owned RHA tungsten mine, in Zimbabwe, will have access to electricity to power all facets of the operations from early January, the company reported this week.
Shares in Premier African Minerals closed 21% higher in London on Wednesday at 0.082 pence each.
Last Wednesday, Premier African said the electrification of the project was 70% complete, but it was waiting on two further items to fully power the project.
The company now says the Zimbabwe Electricity Supply Authority has sourced a changeover panel and a 1.5 mega volt amp and 0.4 volt transformer.
“We are further pleased to confirm that ZESA have provided RHA with a temporary solution whereby they are in the process of coupling two transformer units rated 1MVA 33/11kv and 1.6MVA 11/0.4kv into one unit that can be used at RHA while we await delivery of the other transformer. In terms of the changeover panel, this can be operated manually at site until such time as the item has been delivered and installed,” the company added.
Chief Executive George Roach said: “I am very pleased that we managed to electrify RHA. When coupled with the plant optimisation, this will significantly reduce operating expenditure and generally further de-risk planned return to production. I look forward providing further updates on the restart of operations at RHA.”
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 grass-roots exploration.
In addition, the Company holds shares in Circum Minerals Limited, the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset.