Circum Minerals Update

RNS Number : 3288Z

Premier African Minerals Limited

14 March 2017

 

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

14 March 2017

Premier African Minerals Limited

("Premier" or the "Company")

Circum Minerals Update

 Mining License Approved by the Council of Ministers

Premier African Minerals Limited (AIM: PREM), the London quoted multi-commodity mining and exploration company, is pleased to announce that Circum Minerals Limited's ("Circum") mining license for the Danakil Potash Project has been approved by the Council of Ministers of the Government of Ethiopia.  Premier holds 2 million shares (equivalent to an interest of approximately 2%) in Circum.

More information on Circum Minerals Limited is available on: www.circumminerals.com

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

Fuad Sillem	Premier African Minerals Limited	Tel: [phone]
Michael Cornish / Roland Cornish	Beaumont Cornish Limited (Nominated Adviser)	Tel: [phone]
Jerry Keen/Edward Mansfield	Shore Capital Stockbrokers Limited	Tel: [phone]
Jon Belliss	Beaufort Securities Limited	Tel: [phone]
Charles Goodwin/ Harriet Jackson	Yellow Jersey PR Limited	Tel: [phone]

Notes to Editor:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused in Southern and Western Africa with production started at its flagship RHA project in Zimbabwe.

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, gold, lithium and tantalum in Zimbabwe and Benin, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company recently acquired a 52% controlling stake in Mozambique-based TCT Industrias Florestais Limitada, which owns a substantial limestone deposit and forestry business located on rail in the Sofala Province of Mozambique. In addition, The Company holds 2 million shares in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset. At present those shares are valued at US$4 million based on the latest price at which Circum has accepted subscriptions. Premier also has a 4.5% interest in Casa Mining Limited, a privately-owned exploration company that has a 71.25% interest in the 1.2 million ounce inferred resource Akyanga gold deposit in the DRC.

ENDS

 

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