Business
Update on its RHA Tungsten Mine
Update on its RHA Tungsten Mine.
About this update from Premier African Minerals Ltd.
[{"type":"text","content":"\n \nRNS Number : 9454B Premier African Minerals Limited 16 January 2018 \n\n \n \n16 January 2018\n \n \nPremier African Minerals Limited\nUpdate on its RHA Tungsten Mine (\"RHA\")\n \n \nPremier African Minerals Limited, (\"Premier\" or the \"Company\") is pleased to provide an update on RHA Tungsten Mine (\"RHA\") in Zimbabwe in which it has a 49% interest. \n \nFollowing the announcement on 5 January 2018, Premier is pleased to report that ongoing discussions with the National Indigenisation and Economic Development Fund (\"NIEEF\"), which has an interest of 51% in RHA, are progressing well. At a meeting in Harare last week, NIEEF has reaffirmed the current policy change in Zimbabwe with regards to the indigenization requirements and has indicated NIEEF's willingness to agree a mechanism to restructure its ownership of RHA. Discussions on proposed contract amendments between Premier and NIEEF to achieve this are expected to be progressed during the coming weeks. \nGeorge Roach, Premier's CEO, commented: \"I am pleased that discussions are progressing well and that NIEEF has confirmed their commitment to the development of RHA. We hope to report on these discussions in the coming weeks. I also look forward to briefing our shareholders at the coming investor evening on the 23rd January.\" \n \nEnquiries:\n\n\n\n\nFuad Sillem \n\n\nPremier African Minerals Limited\n\n\nTel: +44 (0)7734 922074\n\n\n\n\nMichael Cornish / Roland Cornish\n\n\nBeaumont Cornish Limited\n(Nominated Adviser)\n\n\nTel: +44 (0) 20 7628 3396\n\n\n\n\nJerry Keen/Edward Mansfield\n\n\nShore Capital Stockbrokers Limited\n\n\nTel: +44 (0) 20 7408 4090\n\n\n\n\nJon Belliss \n\n\nBeaufort Securities Limited\n\n\nTel: +44 (0) 20 7382 8300\n\n\n\n\nCharles Goodwin/Harriet Jackson\n\n\nYellow Jersey PR \n \n\n\nTel: +44 (0) 07544 275 882\n \n\n\n\n\n \nNotes to Editors:\nPremier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused in Southern and Western Africa with production started at its flagship RHA project in Zimbabwe. \n \nThe 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 poten...