Premier African Minerals Settles US$2.4 Million Debt to Avoid Property Attachment.

UK-listed Premier African Minerals has reached a settlement with Zimbabwean contractor JG Goddard Contracting over a US$2.4 million debt related to work done at its Zulu Lithium and Tantalum Project in western Zimbabwe. The company will pay US$400,000 by the end of January 2026, with the balance cleared by November 2026, thereby avoiding a court-ordered seizure of its movable assets.

The settlement removes a significant financial hurdle for the company, allowing it to focus on advancing its lithium operations in Zimbabwe. Premier African Minerals had been struggling to settle the debt for several months, with JG Goddard Contracting securing a court order to seize movable assets from the mine.

"We're pleased to have reached an agreement with JRG, which provides much-needed clarity and removes a substantial financial burden. This clears the way for Premier to push forward with its key projects at Zulu, focusing on funding and operational growth," said Godfrey Manhambara, Premier Chairman.

The debt crisis is just one of several challenges Premier has faced since launching its lithium concentrate plant three years ago. Despite technical and financial hurdles, the recent settlement with JG Goddard Contracting signals a more stable financial footing for Premier as it looks to recover and accelerate the development of Zimbabwe's promising lithium sector