Premier African Minerals gets cash boost and hires environmental consultant

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By Zimbabwe Investor on September 16, 2014. No Comments

Premier African Minerals confirmed it has received a US$1mln payment from Circum Minerals and also announced the appointment of an environmental consultant for its RHA tungsten project.

The US$1mln cash injection is the third tranche of proceeds from the sale of the Danakil potash project, and the company anticipates two further US$1mln payments on November 15 2014 and January 15 2015.

BUMIRA Environmental Consultancy, meanwhile, will provide the company with an environmental and social impact assessment report for the production report – a venture in which Premier owns a 49% interest.

It comes after a prospectus for the ESIA was approved by the Zimbabwe authorities earlier this month.

The prospectus confirms that the mine is environmentally acceptable and final licensing is conditional, on approval of social and environmental management plans, Premier added.

Chief executive George Roach said: “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.”