Online Reporter
Nqobile Bhebhe, [email protected]
PREMIER African Minerals Limited says it remains in constructive discussions with its Chinese strategic partner, Canmax Technologies, over a further extension of the Long Stop Date under their existing prepayment and offtake arrangements, delaying the planned restart of operations at the Zulu Lithium and Tantalum Project in Insiza.
The company had initially targeted resuming plant operations in July 2026, but said this will now depend on the conclusion of the negotiations.
As part of its review, Canmax is assessing the latest operational and commissioning data from the upgraded flotation circuit together with broader technical progress achieved at the project.
Managing director Mr Graham Hill said operations would only resume once an agreement had been reached and formally announced.
“We had previously anticipated recommencing plant operations during July, however, this will only occur once the ongoing and constructive discussions with Canmax Technologies Co., Ltd (“Canmax”) regarding the requested Long Stop Date extension have concluded and the agreed terms have been formally announced.
“Subject to agreement being reached, Premier intends to commence the planned continuous operating campaign as soon as possible, with a revised operating timetable to be confirmed thereafter to shareholders.”
Premier said the proposed extension, together with the next production and optimisation campaign, would be crucial in demonstrating sustained plant performance and strengthening engagement with potential strategic investors for the continued development of Zulu.
Meanwhile, mining and stockpiling activities are continuing, with the company building a larger run-of-mine ore inventory ahead of the plant restart.
The board said accumulating sufficient ore before processing resumes represents the most efficient use of available resources under the current reduced mining scale and is expected to maximise the effectiveness of the next sustained optimisation campaign.
The company added that engineering improvements undertaken following the June processing campaign have enhanced plant reliability after modifications, upgrades and maintenance were carried out across the processing circuit.
While Premier remains optimistic that an agreement will be reached, it cautioned shareholders that there is no certainty the Long Stop Date extension will be approved or on what terms.
