LONDON (ShareCast) - (ShareCast News) - Multi-commodity mining and natural resource development firm Premier African Minerals has completed its acquisition of a 52% stake in TCT Industrias Florestais Limitada.
TCT IF owns a substantial limestone deposit located on rail in the Sofala Province of Mozambique.

"This is a unique opportunity to acquire a deposit that has very good prospects for development into a major low cost industrial scale mining operation with essential infrastructure already in place and a cash generative business to help finance the development," said Premier's chief executive, George Roach.

"The forestry operations of TCT IF will benefit immediately from limited support that Premier has already provided in the form of essential consumables as much as expansion of export opportunities in addition to existing markets in the UK and SADC region," he added.

At about 13:24 GMT, shares in Premier were flat at 0.38p.

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