Premier African Minerals Extends Canmax Agreement to December

06:52 AM EDT, 09/14/2026 (MT Newswires) -- Mining company Premier African Minerals (PREM.L) said Monday it agreed with Canmax Technologies to extend the long stop date in their amended offtake and prepayment agreement for the Zulu lithium and tantalum project in Zimbabwe to Dec. 31. As part of the extension, the companies also signed a separate subordination agreement, under which Canmax's present and future claims against Premier and Zulu Lithium will constitute senior debt, while amounts owed by Zulu Lithium to Premier and other group companies will be subordinated. Premier African Minerals said Canmax owes $48.7 million as of Sept. 10. Subordinated debt owed to Premier and other group companies was $55.6 million.