24 October 2014
   
New Zimbabwe Header
Frelimo candidate wins Mozambique poll
7,000 to attend MDC-T congress, Chamisa
Mujuru 'formed' Marange owner ACR
Zanu PF headed for devastating split
Resign or else, Grace tells VP Mujuru
Youth development fund looted: Nhema
Binga man axes 'witch' uncle, hangs self
Get rid of ‘ghost workers’, says IMF
MORE NEWS
Restore confidence, IMF tells govt
Econet H1 profits down 30pc to US$50m
MORE BUSINESS
Fast and Furious star slams gay claims
TKay Maidza blows hot in Australia
MORE SHOWBIZ
Warriors tumble in Fifa rankings
Quincy Antipas a hit in Denmark
MORE SPORTS
Makanaka: Mazara ignorance and an apology
Ebola scourge: Wake up call for Africa
MORE OPINION
 
Libya: The tragedy of western intervention
Ministers: Technical competence or political value
MORE COLUMNISTS
 
 
Miner announces Kamativi tungsten find
18/02/2013 00:00:00
by Business Reporter
 
 
RELATED STORIES
Blanket gold output marginally up
Overregulation strangling small scale miners
900 workers sent home as mine closes
Miners keen to engage government over growth
Mining sector to bring in US$6bln: MMCZ
Govt consults on new minerals policy
Mining earnings reach US$583 million
Mining royalty payments miss target
Mining fees still too high: AfDB
Mining in Zimbabwe: Where to from here?
Changes would stunt growth: Miners
Zim likely to miss gold output target
Zimplats’ Mhembere new Chamber boss
New Dawn ownership proposals uncertain
India seeks mining changes clarification
Miners meet ahead of key changes
State to market minerals in new review
Small-scale miners to boost gold output
Zim to increase raw platinum export tax

LONDON-LISTED commodity firm Premier African Minerals has revealed that its flagship tungsten project in Zimbabwe could be in production before the end of this year.

Releasing a positive exploration update from the project ‒ which is located in the prospective Kamativi tin belt in north-west Zimbabwe ‒ the company confirmed that it had the potential to be developed into a low capital and operating cost tungsten mine in the near term.

Tungsten is used to make hard materials such as equipment used in the armaments, mining, petroleum and construction industries, as well as to make heavy metal alloys, steels and other chemical compounds.

Premier CEO George Roach said: “Given the availability of water and power at our RHA property, and the relative simplicity of the required processing plant, we believe that we will be able to commence development with a view to production potentially before the end of 2013.”

He said Premier African Minerals was planning to carry out further surface trenching and said sampling was scheduled to be undertaken before the end of March. This would be undertaken to ascertain and confirm the mineral surface location and establish other details.

Apart from its Zimbabwe expansion through the planned tungsten mine, Premier African Minerals reported last month that three of its Southern Togo exploration permits for a project covering phosphates, uranium and rare earth mineral deposits had been renewed another two years.

“On a wider level, we continue to implement our business strategy of building shareholder value through strategic, cost-effective acquisitions and joint-venture partnerships, while advancing our multi-commodity portfolio that already consists of preproduction assets and early-stage exploration projects, primarily in Zimbabwe and Togo,” Roach said.

Zimbabwe is considered a lucrative destination for mining investors despite concerns around the country’s empowerment policy, which compels foreign firms to cede 51 percent shareholding to locals.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark
 
 
 
comments powered by Disqus
 
RSS NewsTicker