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[Ferro-Alloys.com]RHA has now commissioned the new shaft and expects to build tonnage from underground mining to 9,000 tons per month.
Tungsten miner Premier African Minerals (LON:PREM) has completed the underground shaft at its RHA mine, while its plant contractor has committed to complete remedial work by early next month.
Delays to RHA’s plant coming on line meant the Zimbabwe-focused group posted a loss of US$7.86mln (US$537,000) in 2015 after impairment charges of US$844,000 on other exploration and evaluation assets in the country.
RHA has now commissioned the new shaft and expects to build tonnage from underground mining to 9,000 tons per month from June.
Negotiations with the process plant supplier have resulted in a commitment to make necessary modifications and other fixes by 6 July, it added.
One boost for the group is that tungsten prices have risen sharply recently, which will ‘contribute significantly’ to future profitability when the plant at RHA is fully up and running, Premier said.
At the end of December, Premier was owed US$13.7mln (US$8.7mln) by the 49%-owned RHA.
Premier added that its stake in potash group Circum shares had a fair value of US$4mln at end December, but this was likely to have increased further after the recent completion of a optimised definitive feasibility study.
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