1 month ago
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GlobalData
Fri, Apr 25, 2025, 9:01 AM 1 min read
In This Article:
Premier African Minerals (Premier) has signed a non-binding missive of involvement (LOI) with Glencore International regarding the imaginable merchantability of spodumene ore from its Zulu Lithium and Tantalum Project.
The non-binding LOI outlines the conditions for a aboriginal binding agreement, which hinges connected the task gathering circumstantial accumulation criteria.
Premier is committed to finalising this statement wrong the adjacent 3 months with the assistance of Canmax Technologies.
The Zulu Project, located 80km from Bulawayo successful Zimbabwe, is considered 1 of the largest undeveloped lithium-bearing pegmatites successful the country. Spanning 3.5km² crossed 14 mineral claims, the tract is affluent successful lithium and tantalum prospects.
The woody is contingent upon the Zulu Project's processing works achieving the indispensable people and measurement of spodumene concentrate.
Earlier this month, Premier finalised a modification to the revised Offtake and Prepayment Agreement with Canmax Technologies.
This latest accommodation builds upon the initial statement from August 2023 pertaining to the transportation of 48,000 tonnes (t) of spodumene ore to Canmax from the Zulu mine.
Canmax had made a prepayment of $34.6m (252.116m yuan) successful this respect for the operation and commissioning of the processing works astatine Zulu. A consequent amendment was made successful December 2024.
Premier African Minerals CEO George Roach said: "Premier appreciates enormously the committedness and persistence from each to get america to this point. Our absorption is present firmly acceptable connected the last completion and optimisation of the spodumene interval section."
Beaumont Cornish, regulated by the Financial Conduct Authority successful the UK, is serving arsenic the nominated advisor to Premier African Minerals for this transaction.
"Premier African Minerals negotiating lithium offtake statement with Glencore" was primitively created and published by Mining Technology, a GlobalData owned brand.
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