London-listed Premier African Minerals and George Roach have agreed to mutually terminate his consultancy agreement as both the CEO and a director, in accordance with the terms of the consultancy agreement entered into in December 2012.

Under the terms of the executive service agreement, Roach will continue in his role as CEO and director for a further three calendar months, with his final day of service being August 31. This notice period is aimed at ensuring an orderly handover and continuity while a successor is appointed.

The board says it has already begun the search for a new CEO or non-board MD.

“It has been an incredible journey to see this business develop and what has been accomplished since I founded Premier in 2007. Following the announcement on the April 1, Premier now has an opportunity to remedy the last remaining element of the plant not yet fully commissioned and demonstrate definitively the potential that the Zulu lithium and tantalum project has to be a world class producer of spodumene concentrate and other associated by-products,” Roach says.

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

On April 1, Premier announced that the company had reached an agreement with Canmax Technologies on a further amendment to the restated offtake and prepayment agreement which the parties had previously agreed in August 2023 and further amended in December 2024 in respect of the project.

Roach informed the board and shareholders in July 2023 that he felt it was time for him to step down and for a new CEO to be appointed.

“With our prepayment and offtake partner support in both the lifting of the long stop date and future funding it is as good a time as any to proceed with this change. To whatever extent is necessary and required, I will offer support and assistance as Premier embarks on this next and exciting step,” he says.

“On behalf of the board and everyone at the company, I would like to thank George Roach for his support over the years, both in terms of the vital contribution to the founding of Premier and the years of development that have been achieved since. It is fundamental to acknowledge that, without his passion, drive and devotion, Premier wouldn't have been able to build two mines under his management and guidance,” says chairperson Godfrey Manhambara.

“Premier wishes George the best in his future endeavours and I personally look forward to working with him closely during the next three months to ensure that an orderly transition and handover can be achieved,” he adds.