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Premier African Minerals abandons acqusition plans due to RHA uncertainty

The Zimbabwe-based group took the decision due to the ongoing uncertainty over the future of its RHA tungsten mine

George Roach
George Roach is Premier's chief executive

Premier African Minerals Limited (LON:PREM) has scrapped plans to buy 50% stakes in its mine contractor KME and the Honey Badger gold deposit.

The Zimbabwe-based group took the decision due to the ongoing uncertainty over the future of its RHA tungsten mine.

READ: Premier African Minerals says Zimbabwean government has proposed US$6mln investment in RHA mine

Last month, the Zimbabwe government proposed a US$6mln investment in RHA, but this is still awaiting final sign-off from the Ministry of Industry, Commerce and Enterprise Development said Premier.

Quick facts: Premier African Minerals Ltd

Price: 0.146 GBX

AIM:PREM
Market: AIM
Market Cap: £16.07 m
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Watch

Premier African CEO would be disappointed if RHA not producing this year

George Roach, Premier African Minerals PLC’s (LON:PREM) chief executive remain confident that the US$6mln earmarked by the Zimbabwe government to re-start the RHA tungsten mine will be forthcoming. Once the money comes through he is confident RHA can be back in operation within 100...

on 7/6/19

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