ZULU news28 May 2018 10:44
Premier African Minerals Mr Fuad Sillem told our Harare Bureau last week from his London base that the firm is lining up a $64 million investment for its Matabeleland North venture.
�We completed a scoping study on the Zulu Lithium Project at the end of last year. The study demonstrates a technically feasible and economically robust lithium project. We are looking to secure the funding as soon as possible. We are currently in discussions with a number of strategic groups with regards to the financing of the feasibility study of the project.
�We have invested a significant amount of capital on exploration drilling, resource estimations, metallurgical test work and other engineering studies. The project will cost around $64 million to build, with peak funding requirements of only $38 million. The project will generate 452 direct jobs and make a significant contribution to the local economy,� he said.
Government, he said, has been very supportive. Since taking office last November, President Mnangagwa�s business-oriented administration has signed deals worth US$16 billion, most of which are greenfield investments, while others are projects that were stymied by the old administration. President Mnangagwa set up a Ministry of Presidential Affairs and Monitoring of Government Programmes to eliminate the inertia associated with Government bureaucracy.