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(Alliance News) - Premier African Minerals Ltd said Wednesday its 49%-owned RHA Tungsten Pvt Ltd operation in Zimbabwe will have full power from early January.
Shares in Premier African Minerals closed 21% higher in London on Wednesday at 0.082 pence each.
Last Wednesday, Premier African said the electrification of the project was 70% complete, but it was waiting on two further items to fully power the project.
The company now says the Zimbabwe Electricity Supply Authority has sourced a changeover panel and a 1.5 mega volt amp and 0.4 volt transformer.
"We are further pleased to confirm that ZESA have provided RHA with a temporary solution whereby they are in the process of coupling two transformer units rated 1MVA 33/11kv and 1.6MVA 11/0.4kv into one unit that can be used at RHA while we await delivery of the other transformer. In terms of the changeover panel, this can be operated manually at site until such time as the item has been delivered and installed," the company added.
Chief Executive George Roach said: "I am very pleased that we managed to electrify RHA. When coupled with the plant optimisation, this will significantly reduce operating expenditure and generally further de-risk planned return to production. I look forward providing further updates on the restart of operations at RHA."
By Paul McGowan; paulmcgowan@alliancenews.com
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