With Lithium Consolidated Ltd shifting in focus to concentrate on projects in Australia, Premier African Minerals has acquired its Mozambique and Zimbabwe lithium portfolio.

Multi-commodity mining and natural resource development company Premier African Minerals Limited announced the development.

It acquired $104,000 of a hard-rock lithium portfolio.

The acquisition includes 1500 hectares of licenses in Zimbabwe, originally acquired by Lithium Consolidated in 2018, and a further 100 hectares in the Alto Ligonha Pegmatite Province of Mozambique. The move was intended to complement Premier’s existing operations on the continent.

Advertisement

Premier added that today’s acquisition emphasises its ongoing commitment to projects in the region, noting that the operation in Mozambique carries similar mineralisation to Zimbabwe. The acquisition joins a diverse portfolio including tungsten, rare earth elements and tantalum.

Chief Executive Officer of Premier, George Roach, commented on the announcement, “These properties in Zimbabwe are completely complementary to our existing operations and may have the potential for small scale early production, something very important to our Company, as much as adding to our lithium inventory. The project in Mozambique has recently been identified as being potentially prospective for other mineralisation including gold.”