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Premier African Minerals sees shares fall on spodumene reagent delay

ALN

Premier African Minerals Ltd on Monday bemoaned production delays at its Zulu lithium and tantalum project in Zimbabwe.

The Africa-focused minerals and metals project developer said that two issues delayed production this weekend, the first of which was final approval from a Zimbabwean authority for the Zulu project.

The second was the late delivery of one outstanding reagent.

Chief Executive Officer George Roach said this was short-ordered ‘due to an error on the part of the plant supplier’. The reagent is freely available, he added, but not in Africa, and complications related to airfreight of a chemical substance has caused this delay.

Not having the reagent does not make it impossible to produce spodumene, but it does affect the grade of spodumene concentrate produced.

Roach added: ‘We believe that the above issues will be resolved in the coming days and will update the market thereafter.’

Premier African Minerals shares were trading 1.7% lower at 0.91 pence each in London on Monday afternoon.

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