Online Reporter
Rutendo Nyeve Victoria Falls Reporter
PREMIER African Minerals Limited has reached a settlement agreement with J R Goddard Contracting (Private) Limited, ending a high-stakes dispute over a US$2,4 million debt that had threatened operations at the flagship Zulu Lithium and Tantalum Project in Insiza District.
The agreement, announced in a corporate update on Monday, follows the issuance of a writ of execution for movable property on December 23, 2025, against Premier’s subsidiary, Zulu Lithium (Private) Limited.
The writ had authorised J R Goddard to seize and auction movable assets at the Zulu project to recover the outstanding amount, placing the mine’s short-term operations under serious risk.
Under the settlement, Premier and Zulu Lithium will settle the full claim, including accrued interest, through a structured payment plan. An initial payment of US$400 000 is due by January 30, 2026, followed by monthly instalments extending to November 2026.
In terms of the agreement, J R Goddard has undertaken to suspend all enforcement actions, provided Premier complies fully with the agreed payment schedule.
Premier African Minerals chairman Mr Godfrey Manhambara said the settlement marked a positive turning point for the company.
“The board of Premier is pleased to confirm JRG’s agreement to stay execution and views the settlement agreement as a highly positive outcome, providing future certainty and enabling the company to progress its funding and operational initiatives at Zulu Lithium,” he said.
The settlement removes a major legal and operational overhang, allowing Premier to refocus on advancing the strategically important lithium project.
However, the company noted that the agreement constitutes a forbearance arrangement, with J R Goddard’s original legal rights remaining in force until the full settlement amount is paid.
The resolution is expected to stabilise operations at the Zulu Lithium and Tantalum Project and restore investor confidence in one of Zimbabwe’s most promising lithium ventures.
Londile Moyo