Premier African raises $1mn to advance Zulu Lithium Project in Zimbabwe
before expenses through a share subscription to support ongoing
optimisation and operational activities at its
Tantalum Project
first spodumene concentrate.
In release on
through the issue of new ordinary shares at
would be used primarily to support activities at Zulu and provide
general working capital.
The capital raise comes a day after Premier announced a key
operational milestone at the project, with the newly commissioned
flotation plant producing its first spodumene concentrate, a
critical step towards commercial lithium production.
The company said the funds would allow it to continue
optimisation work, refine operating parameters and support
operational requirements as it moves the project towards sustained
production.
Managing director
maintaining momentum at the flagship lithium asset.
“This funding provides important working capital to support
ongoing operational requirements at Zulu and the continued
optimisation of the modified existing plant and the newly
commissioned flotation plant,” Hill said.
He added that the production of first spodumene concentrate, as
the company announced on
that the flotation circuit was performing as expected.
“Whilst optimisation remains ongoing, we are encouraged by the
initial plant performance and the improvements in operational
stability that have been achieved to date,” Hill said.
Zulu is one of
forms part of the country’s broader strategy to increase value
addition and beneficiation in the battery minerals sector.
“The Board remains firmly focused on advancing Zulu towards
sustained production, improving concentrate quality and recovery,
and delivering long-term value from what we believe is a
significant lithium asset,” Hill said.
© 2026 bne IntelliNews, source
Credit: Source link