Connect with us

Slider

Premier’s Zulu lithium project shows a lot of promise

Published

on

BY SIMONE LIEDTKE

Diversified miner Premier African Minerals’ scoping study for its Zulu lithium project, in Zimbabwe, has found a significant increase in spodumene concentrate prices, which is set to benefit the miner as concentrate selling processes are projected to continue improving.

Advertisement

Premier has already embarked on a definitive feasibility study at Zulu, with drilling well under way and two rigs operating at present.

Preliminary work continues to support the findings set out in the scoping study, with CEO George Roach confirming on August 16 that specific examples include an overall reduction in certain specific costs in Matabeleland, most notably in respect of labour and the confirmation of the projected logistics costs on a free-on-board Beira basis.

“It is interesting to note the significant increase in Zulu’s net present value with improved and projected spodumene concentrate pricing compared with Premier’s present market capitalisation,” Roach commented.

Advertisement

The scoping study, initiated in 2017, identified a target production of 84 000 t/y of spodumene concentrate and 32 500 t/y of petalite concentrate for an initial 15-year life-of-mine to be the most appropriate option and was based on prices of $800/t of spodumene and $400/t of petalite concentrate.

The updated scoping study models three scenarios for different spodumene concentrate sales prices to illustrate the impact of the recent significant increase in prices of spodumene and petalite.

In addition, Bara Consulting, which compiled the scoping study, escalated the capital and operating costs by US inflation for a period of four years (at a rate of two percent a year) as costs are reported in dollars.

Advertisement

No further changes have been made to the underlying economic, technical, engineering or processing assumptions used in the scoping study, nor resources nor the mine plan.

Overall, the improvement in spodumene pricing and, therefore, the revenue factors, have a significant positive improvement in the economic results despite the escalated capital and operating costs, Premier said. – Mining Weekly

Advertisement
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Hwange

Hwange Local Board impounds cattle: Owners urged to claim animals

Published

on

BY WANDILE TSHUMA

The Hwange Local Board is urging livestock farmers to come forward and claim their cattle that were impounded by Council Police last week.

According to a notice issued by Acting Town Secretary Paul  Mabhureni, the 10 animals have been unclaimed for over a week and are currently being held at the impound yard.

Farmers with missing cattle are advised to visit the Hwange Local Board offices to identify and claim their animals.

A daily fee will be charged for each impounded animal, and if the animals remain unclaimed after a month, the Council will auction them off .

The Hwange Local Board is also warning livestock owners to take responsibility for managing and controlling the movement of their animals to prevent them from encroaching into residential areas.

Council Police have increased patrols to reduce the presence of stray animals in these areas.

Residents are encouraged to report any stray livestock to the Council immediately.

 

Continue Reading

Hwange

Victoria Falls City Council meeting aborted due to lack of quorum

Published

on

BY NOKUTHABA DLAMINI 

A full council meeting scheduled to take place at the Victoria Falls City Council today was aborted due to a lack of quorum.

The meeting, which was initially scheduled for Thursday, was fast forward to today in the wake of reports of confusion at Town House.

The meeting was called to discuss the suspension of Town Clerk Ronnie Dube who was suspended two weeks ago on corruption allegations.

It was further reported that it was also to rescind the  Housing Director Brian Nyamande.

However, only five councillors attended, falling short of the required six to form a quorum.

According to Mayor Tuso Moyo, the meeting was urgent, but the lack of quorum prevented any progress.

However, residents’ associations disputed this agenda, stating that the meeting was against the will of the residents and that they were expecting it to take place on Thursday.

Hwange District Residents Association and Victoria Falls Combined Residents’ Association representatives and a few residents were gathered outside the boardroom, awaiting the outcome of the meeting.

The suspension of Dube has sparked controversy, with many calling for transparency and accountability.

The aborted meeting has only added to the uncertainty, leaving many questions unanswered, HWANDRA chair, Hebert Ncube said after the meeting.

“We also gather that the minister, Daniel Garwe, has summoned the two and the mayor, deputy mayor to Harare tomorrow where they just came from again last week. There is so much pressure to rescind the suspension of Dube, but we are saying, he should come here and talk to the people and let justice handle this, then he can be rescinded.”

Continue Reading

Hwange

Hwange Local Board cracks down on overdue license fees

Published

on

BY STAFF REPORTER 

The Hwange Local Board has issued a stern warning to business owners with overdue license fees, stating that trading licenses for the 2025 license year will not be renewed for commercial properties with outstanding accounts.

According to a notice issued by Acting Town Secretary Mr. Paul Mabhureni, “Hwange Local Board would like to advise the business community that we will not renew trading licenses for the license year 2025 to all commercial properties whose accounts are in arrears.”

The notice further states that “The Business License Renewal period for the license year 2025 commenced in November 2024 and ends on 31 December 2024.”

Additionally, the notice reminds business owners that, “In terms of the Shop Licences Act Chapter 14.17, no person shall in any shop, store or other fixed place of business, carry on the trade or business of selling or letting for hire any goods except in terms of a shop licence.”

Business owners who fail to renew their licenses within the stipulated timeframe will face penalties, including a fine of one-twelfth of the appropriate license fee for each month or part thereof that has elapsed since their liability arose.

The notice concludes by advising business owners to ensure that their premises are inspected prior to renewing their trading licenses, and urging cooperation in settling outstanding accounts to avoid disruptions to their operations.

Continue Reading

Trending

Copyright © 2022 VicFallsLive. All rights reserved, powered by Advantage