The Zimbabwean Government is looking to invest $6 million in the RHA Tungsten Mine.

RHA is majority owned by the Government which has a 51 percent stake, while diversified resources company, Premier African Minerals Ltd holds the balance of the shareholding.

PAM announced this afternoon that Zimbabwe’s Ministry of Industry, Commerce & Enterprise Development has secured a US$6 million investment for the RHA Tungsten mine in the country.

In August last year , Premier African said that it received a letter from Zimbabwean regulators confirming that the company’s proposal to raise its stake in RHA Tungsten to 90% had been favourably received.

Regulator approval was expected to be completed in October, and then in November, but it never came to fruition.

Premier African said the Ministry informed the miner the investment means the mine will be immediately recommissioned and Premier’s subsidiary, Zimdiv Holdings Ltd, the operator of the mine, has been awarded another management agreement.

Premier African has said it will provide further details when the agreements have been signed.

Premier African Minerals is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA and Zulu projects in Zimbabwe.

The company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe, encompassing brownfield projects with near-term production potential to grass-roots exploration.

In addition, the company holds 5,010,333 shares in Circum Minerals Limited, owners of the Danakil Potash Project in Ethiopia.