Goddard seeks to attach Zulu Lithium assets

Rutendo Nyeve

Victoria Falls Reporter

JR GODDARD CONTRACTING, owned by prominent businessman Mr Jim Ross Goddard, has approached the High Court seeking to attach movable property worth approximately US$2,2 million from Premier African Minerals Limited’s Zulu Lithium and Tantalum Project in a bid to recover an outstanding debt.

This follows the issuance of a Writ of Execution for Movable Property filed at the High Court after negotiations over a long-standing debt reportedly collapsed. The writ empowers the sheriff to seize and auction designated movable assets at the mine to recover the owed sum.

The debt stems from a 2023 judgment in favour of JR Goddard, which had been stayed to allow for payment arrangements. According to earlier court records, the initial judgment was for US$2,5 million for services and materials supplied by Goddard’s company during the mine’s development phase. A notice of demand for US$2,3 million was served earlier this month, triggering the current enforcement action.

Premier African Minerals Limited, the AIM-listed parent company, confirmed the development in a corporate update released on Tuesday. The update stated that while the writ has been issued, dialogue with the creditor remains ongoing, and the company sought to assure stakeholders that the attachment may not be final.

“Communication between the parties remains open and ongoing and the company believes that, subject to the financial position at Zulu Lithium, any movable property attached pursuant to the Writ may be recovered through the agreement and implementation of further payment arrangements with the Creditor,” reads the update.

However, the move underscores persistent liquidity challenges facing the mining project, even in a high-demand sector such as lithium. The attachment of movable property, which could include machinery, vehicles or equipment, has the potential to disrupt operations at Zulu, one of Zimbabwe’s flagship lithium projects. This comes as Government pushes for increased mineral output and local beneficiation.

Premier African Minerals reiterated its commitment to finding a resolution, but the sheriff’s action, pending a last-minute settlement, now appears imminent.