REG - Premier African Min. - Zulu Lithium Flotation Plant

Premier African MineralsAnnouncement

11/02/2026 07:00

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RNS Number : 5724S  Premier African Minerals Limited  11 February 2026

11 February 2026

Premier African Minerals Limited

 

Zulu Lithium Flotation Plant

 

Premier African Minerals Limited ("Premier" or the "Company") is pleased to
announce that Zulu Lithium (Private) Limited ("Zulu"), has concluded the
procurement, installation and commissioning contract with Xinhai Technology
Processing wholly owned subsidiary, Thriving Engineering Private Limited (the
"Contractor") for the provision of  a spodumene flotation plant at the Zulu
Lithium and Tantalum Project in Zimbabwe (the "Project").

 

Graham Hill, Managing Director, commented, "As we have previously
communicated, our focus at Zulu is firmly on improving the stability and
consistency of overall processing performance. Whilst the concluding of this
agreement with the Contractor has taken a little longer than planned the
intervening period has provided opportunity for a combination of detailed
technical discussions and the need to ensure that the appropriate contractual
protections, including performance-related provisions, were properly aligned
with our operational requirements and validation of funding.

 

Importantly, the contractual framework now in place provides for commissioning
to be undertaken against defined performance criteria, with elements of
payment linked to the achievement of those outcomes. We believe that this
structure appropriately aligns Contractor incentives with delivery of the
processing performance we require and represents a further step in the
Company's ongoing focus on stabilising and optimising processing performance
at the Project. The agreement allows for completion of all works,
commissioning and optimisation within the time frame of the Long Stop Date as
announced on the 5(th) January 2026."

 

The Flotation Contract

 

The contract provides for the supply of flotation equipment and specialist
engineering services to support the installation, commissioning and
optimisation of a 15-20 tonnes per hour spodumene flotation circuit at Zulu.

 

Key commercial and technical terms of the contract include:

 

 i.            Delivery of flotation equipment within 15 days and on-site engineering support
               for installation and commissioning. The concrete foundations have already been
               completed.

 ii.           A process performance guarantee, under which the Contractor is required to
               commission the flotation circuit to achieve targeted spodumene concentrate
               grade and recoveries at a design throughput of 15-20 tonnes per hour, subject
               to feed meeting agreed specification.

 iii.          A staged payment structure, with a portion of the commissioning fees withheld
               and only payable upon achievement of agreed performance and throughput
               criteria, aligning final payment with delivery of operational performance.

 

All required civil works to accommodate the flotation plant upgrade have been
completed, enabling installation and commissioning activities to proceed
without delay. Subject to logistics, site readiness and ramp-up dynamics, the
Company expects the upgraded flotation circuit to be commissioned and
optimised during Q2 2026.

 

Market Abuse Regulations

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of
the European Union (Withdrawal) Act 2018 ("UK MAR").

The person who arranged the release of this announcement on behalf of the
Company was Graham Hill.

A copy of this announcement is available at the Company's
website, www.premierafricanminerals.com
(https://url.avanan.click/v2/r02/___http:/www.premierafricanminerals.com/___.YXAxZTpzaG9yZWNhcDphOm86NDU5OGU0ZDgzYTJhOTIyZjliOTk4ODJkZWFmNTJlZTg6NzphYTg0Ojc2YzFhOGFhN2NmNjk2OWY1NzlkYTNjNGExM2ExZGI0YjBlNDMyYWVlZjg2ZTAxZmQ2NTc0OTRjODZiMzE5MDY6cDpUOk4)
.

Enquiries:

 

 Graham Hill                         Premier African Minerals Limited    Tel: +27 (0) 100 201 281
 Michael Cornish / Roland Cornish    Beaumont Cornish Limited            Tel: +44 (0) 20 7628 3396

                                     (Nominated Adviser)
 Douglas Crippen                     CMC Markets UK Plc                  Tel: +44 (0) 20 3003 8632
 Toby Gibbs/ Harry Davies-Ball       Shore Capital Stockbrokers Limited  Tel: +44 (0) 20 7408 4090

 

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority, is
acting as nominated adviser to the Company in connection with this
announcement and will not regard any other person as its client and will not
be responsible to anyone else for providing the protections afforded to the
clients of Beaumont Cornish or for providing advice in relation to such
proposals. Beaumont Cornish has not authorised the contents of, or any part
of, this document and no liability whatsoever is accepted by Beaumont Cornish
for the accuracy of any information, or opinions contained in this document or
for the omission of any information. Beaumont Cornish as nominated adviser to
the Company owes certain responsibilities to the London Stock Exchange which
are not owed to the Company, the Directors, Shareholders, or any other person.

 

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and
natural resource development company focused on Southern Africa with its RHA
Tungsten and Zulu Lithium projects in Zimbabwe.

 

The Company has a diverse portfolio of projects, which include tungsten, rare
earth elements, lithium and tantalum in Zimbabwe and lithium encompassing
brownfield projects with near-term production potential to grass-roots
exploration.

 

Ends

 

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