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AIM-listed mining and exploration junior, Premier African Minerals Limited, has confirmed the resignation of its long-serving Chief Executive Officer, George Roach, and the appointment of mining veteran Graham Hill as an executive director with immediate effect, Mining Zimbabwe can report.
By Rudairo Mapuranga
The announcement formalises a transition that began in May 2025 with the termination of Roach’s consultancy agreement and his role as CEO, followed by Hill’s appointment as Managing Director in June. The leadership handover now comes at a critical juncture for Premier, which is struggling with mounting debts while advancing its flagship Zulu Lithium and Tantalum Project in Fort Rixon.
For years, Roach was the face of Premier, steering the company through exploration, securing key partnerships, and pushing Zulu into early production. However, his leadership was also clouded by operational delays, ballooning liabilities, and shareholder frustration.
Premier’s precarious finances became a flashpoint earlier this year, with group liabilities swelling beyond US$64 million, including US$46.3 million owed to Canmax Technologies under the offtake and prepayment agreement. Shareholders voiced deep scepticism about Premier’s future, with one commenting: “$10M market cap, $64M debt, impossible for this to end well for shareholders, new or old.” Others questioned the legality of unpaid obligations, including US$17 million in salaries, declaring “the game is truly up.”
Against this backdrop, Roach’s exit marks the end of an era in which he embodied both Premier’s ambition and its instability. Replacing Roach is Graham Hill, 67, a qualified mechanical engineer with over 40 years of mine development and management experience across Africa, Europe, Russia, and Central Asia. Hill previously held senior positions at Anglo American, Oxus Gold, and Axmin, and most recently served as Chief Operating Officer of Adriatic Metals PLC, where he oversaw development of the Vares Project in Bosnia and Herzegovina.
Welcoming his appointment, Premier Chairman Godfrey Manhambara said: “Graham has wide experience that has direct relevance to our operations, and we welcome him to the Board.”
Hill is expected to stabilise operations at Zulu, optimise the flotation plant, and rebuild credibility with financiers and shareholders.
The leadership change coincides with a significant financial restructuring. Premier recently confirmed that Canmax Technologies has moved to convert outstanding debts into equity, increasing its stake in the company. The move has been widely interpreted as Canmax tightening its grip on Premier and the Zulu project, cementing its role not only as offtake partner but also as a major shareholder with direct influence over the company’s future.
For some stakeholders, this signals both a lifeline and a loss of autonomy. While Canmax’s conversion eases immediate pressure on Premier’s balance sheet, it underscores how far control has shifted from Harare to Beijing. Shareholders who once placed faith in Roach’s leadership are now looking to Hill to navigate this new reality, balancing operational delivery with the expectations of a dominant partner.
Roach’s exit, Hill’s appointment, and Canmax’s increasing presence together mark a turning point for Premier African Minerals. From a company once defined by its charismatic founder and bold promises, Premier is now under pressure to deliver stability, consistency, and sustainable shareholder value in a market where lithium demand remains strong but investor patience has worn thin.
The next phase will be closely watched by investors, creditors, and Zimbabwe’s mining sector alike: Can Hill stabilise Zulu and restore confidence, or will Premier’s future be further absorbed into Canmax’s strategic ambitions?
