Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining
For immediate release
7 April 2015
Premier African Minerals Limited
("Premier" or the "Company")
Acceptance of Environmental Impact Assessment
Permission to Operate Granted - On time and On Budget
Premier African Minerals Limited, the AIM-traded, multi-commodity natural resource company with mineral projects located in Southern and Western Africa, is pleased to announce that its Environmental Impact Assessment ("EIA") has been approved by the Environmental Management Agency of Zimbabwe ("EMA") and permission has been granted to operate the Company's flagship RHA Tungsten Project ("RHA") in Zimbabwe. Premier is the operator of RHA and holds a 49% interest.
George Roach, CEO of Premier African Minerals Limited, commented:
"Our in-house team worked in close cooperation with EMA and the granting of this permission to operate on time and under budget further demonstrates the commitment of both the National Indigenisation and Economic Empowerment Board, our partners in this project and the various departments of the Zimbabwe Government to see RHA into production. My sincere thanks to those who have worked tirelessly to achieve this milestone."
Further information
EMA has issued EIA certificate number 002092 and has granted RHA Tungsten Mine (Project number 7245) permission to operate in accordance with Part XI of the Environmental Management Act (Chapter 20:27) subject to certain specified terms and conditions that are normal for such an authority. EIA acceptance to operate is renewable periodically.
Enquiries
Pamela Hueston |
Premier African Minerals Limited |
Tel: +44 (0) 755 778 3855 |
Michael Cornish / Roland Cornish |
Beaumont Cornish Limited (Nominated Adviser) |
Tel: +44 (0) 207 628 3396 |
Jerry Keen/ Edward Mansfield |
Shore Capital Stockbrokers Limited |
Tel: +44 (0) 207 408 4090 |
Kelsey Traynor/ Dominic Barretto |
Yellow Jersey PR |
Tel: +44 (0) 776 8537 739 |
Forward Looking Statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.
Notes
Premier African Minerals Limited (AIM: PREM) is a multi-commodity exploration and development company focused in Southern and Western Africa with near term tungsten production at its flagship RHA project in Zimbabwe.
The Company has a diverse portfolio of projects, which includes tungsten, rare earth elements, gold, lithium and tantalum in Zimbabwe and Togo, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company also holds 2 million shares in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset. At present those shares are valued at US$2.5 million based on the latest price at which Circum has accepted subscriptions.
ENDS
