Vast Resources plc (LON:VAST) Marange Diamond Field exploration: Status

In line with its regulatory obligation Vast Resources plc, the AIM listed mining company with operating mines in Romania and Zimbabwe, having noted reports in the press that the Minister of Mines has stated that Vast will be allowed to explore for diamonds in Zimbabwe, wishes to make it clear that it has received no official notification of this position.

 

De Beers and Vast Resources will be allowed to explore for diamonds in Zimbabwe, which would make them the first listed companies to mine there in that sector for two years, Mining Minister Winston Chitando said.

A spokesman for De Beers, an Anglo American unit, said in an email it was not mining in Zimbabwe and did not intend to. Vast Resources said it could not comment.

Zimbabwe has been working to rebuild investor confidence since long-term leader Robert Mugabe was ousted in late 2017.

This month its mining ministry said it would let in two new companies but did not name them.

On Wednesday, Chitando told Reuters De Beers and Vast Resources would be allowed to mine, but could not comment on any changes to ownership rules. “Those are the details that have to be thrashed out,” he said.

 

Full Article Link:  Zimbabwe mining minister invites De Beers, Vast Resources to return

(Reuters)

 

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