The deal is contingent upon the Zulu Project’s processing plant achieving the necessary grade and volume of spodumene concentrate.
The Zulu Project, spanning 3.5km² across 14 mineral claims, is one of Zimbabwe’s largest undeveloped lithium-bearing pegmatite deposits, rich in lithium and tantalum. Premier aims to finalize the binding agreement within three months, with support from Canmax Technologies, focusing on achieving the required grade and volume of spodumene concentrate at the project’s processing plant.
Earlier in April 2025, Premier amended its Offtake and Prepayment Agreement with Canmax Technologies, building on an initial deal from August 2023. The original agreement involved supplying 48,000 tonnes of spodumene concentrate to Canmax, supported by a $34.6 million prepayment for the construction and commissioning of the Zulu processing plant. A further modification was made in December 2024 to refine the terms.
George Roach, CEO of Premier African Minerals, stated: “Premier appreciates enormously the commitment and persistence from all to get us to this point. Our focus is now firmly set on the final completion and optimisation of the spodumene float section.”
Beaumont Cornish, a UK-based firm regulated by the Financial Conduct Authority, is acting as Premier’s nominated adviser for the transaction. The collaboration with Glencore and Canmax underscores Premier’s efforts to advance the Zulu Project, enhancing its potential to contribute to the global supply of lithium and tantalum.
The project’s development aligns with growing demand for materials critical to renewable energy and technology applications. Premier is prioritizing the optimization of its processing capabilities to meet production targets, ensuring the Zulu Project can deliver high-quality spodumene concentrate to the market.
