16th Sep 2014 14:32
LONDON (Alliance News) - Premier African Minerals Ltd Tuesday said an environmental and social impact assessment report for RHA Tungsten (Pvt) Ltd has been approved by the Environmental Management Agency of Zimbabwe.
Premier African Minerals is the operator of RHA Tungsten, a tungsten project, and holds a 49% interest in it. It had commissioned the report from Zimbabwe-based BUMIRA Environmental Consultancy.
Premier African Minerals said the approval received last Thursday from the Zimbabwe government agency is an important step to the environmental licensing of RHA, which will be required before production commences.
It said the approval confirms that the mine is environmentally acceptable. Final licensing is conditional on approval of the company's social and environmental management plans. It expects to submit those plans within the coming months.
"It's another step on the pathway to production. Premier remains single-mindedly focused on meeting every requirement to get RHA into production, on time and on budget," Chief Executive George Roach said in a statement.
In addition, the company said it has received the third tranche of USD1.0 million from Circum Minerals Ltd, as part of a deal in which Circum bought a stake in the Danakil potash project in Ethiopia for cash and shares.
Premier African Minerals said it expects to receive a further USD1.0 million on each of November 15 2014 and January 15, 2015. The receipt of the most recent payment tranche follows that of the USD1.0 million second tranche received in July
Premier African Minerals shares were Tuesday quoted up 13% at 1.50 pence.
By Samuel Agini; [email protected]; @samuelagini
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