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11 Feb 2026 07:00
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 5th 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.
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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.
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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.
Enquiries:
Graham Hill | Premier African Minerals Limited | Tel: +27 (0) 100 201 281 |
Michael Cornish / Roland Cornish | Beaumont Cornish Limited (Nominated Adviser) | Tel: +44 (0) 20 7628 3396 |
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.
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