Premier African Minerals Progresses Zulu Lithium Plant as Zimbabwe Signals Export Shift

Premier African Minerals (LSE:PREM) reported continued development at its Zulu Lithium and Tantalum Project in Zimbabwe, where installation of the Xinhai Flotation Plant is moving forward. Work includes the integration of site-built components, installation of tailings infrastructure, and near completion of electrical systems.

The company is streamlining plant operations by removing underperforming sorting equipment and addressing issues linked to thickener systems. At the same time, it is rebuilding its processing team, resuming pit dewatering to enable selective mining, and preparing the site for commissioning. These steps come alongside indications that Zimbabwe’s current restrictions on lithium concentrate exports may transition toward a regulated framework permitting exports by compliant producers.

Management believes that eliminating high-cost and unreliable components will enhance operational stability, lower costs, and support consistent plant performance once Zulu reaches full production. The anticipated shift in export policy is also seen as a key positive, potentially enabling revenue generation while aligning with Zimbabwe’s broader push for in-country beneficiation.

Despite operational progress, the company continues to face financial challenges, including ongoing losses, negative gross margins, and sustained cash outflows. Market indicators remain weak, with the share price trending below major technical levels and momentum signals negative. Valuation support is limited given the absence of earnings and dividend yield.

More about Premier African Minerals

Premier African Minerals is an AIM-listed natural resources company focused on Southern Africa, with a portfolio spanning lithium, tantalum, tungsten, rare earth elements, and gold. Its key assets include the Zulu Lithium and Tantalum Project and the RHA Tungsten Project in Zimbabwe, alongside additional lithium and gold exploration projects in Mozambique. The company’s portfolio ranges from near-term production assets to early-stage exploration opportunities.