Staff ReporterThe mining company Aim-listed Premier African Minerals announced that it has received notice from the Zimbabwe Ministry of Industry, Commerce and Enterprise Development that is has secured a proposed investment of $6-million for the RHA Tungsten project being developed by Premier.
Speaking to Report Focus News the spokesperson for the mining company said. “The funds will be used for the recommissioning of mining operations, subject to the completion of necessary agreements.”
Further, Zimdiv Holdings, which is a wholly-owned subsidiary of Premier and which manages the RHA mine, will be awarded another management agreement on similar terms to the current management agreement which was entered into in September 2013.
The company will provide further updates once the agreements have been signed.
The RHA Project is located in Hwange an area of historic production, approximately 270km northwest of Bulawayo. Premier has advanced the RHA project from an exploration project through to a producing tungsten mining operation.
The project comprises 50 Mineral Claim Blocks, covering 1,800 hectares, consisting of 10 owned by Premier and 40 which are under option. Small-scale surface and underground mining was conducted at the site between 1931 and 1979. Total production from the RHA mine was 1,247.65 tonnes of wolframite concentrate, containing 65% WO3.
The deposit is approximately 800m in strike length and 300m wide. Premier African recently announced a resource of 22.14 million tonnes at 2.45kg per tonne in both the underground and open pit operations. (Please see resource table below)
To date, Premier African Minerals has invested around US$18million in the acquisition and development of the mine as well as the plant and necessary infrastructure.
