The AIM-listed mining company, which has operating mines in Romania as well as Zimbabwe, said it intends to advance the Heritage Concession in a joint venture arrangement with Red Mercury (Pvt) Ltd, a company owned by the Marange-Zimunya Community Share Ownership Trust.
Vast Resources said its chief executive officer Andrew Prelea undertook a 10-day visit to Zimbabwe in early November "to engage with stakeholders and government officials to discuss and establish the most appropriate and mutually beneficial method with which to operationalise the joint venture to benefit the community, the region and country at large".
Commenting on the trip, Prelea said, "Over the past year Zimbabwe has adopted a progressive and inclusive environment for mining investment and I am delighted that Vast remains at the forefront of this industry. Despite the recent well-publicised issues relating to the ready access to foreign currency, operations on the ground continue largely undisturbed.”
He added: "In line with our corporate social responsibility values we continue to engage with local stakeholders in Marange and at the national government level as we look to collectively establish a new benchmark for sustainable and mutually beneficial mining development to unlock the value of Zimbabwe's significant mineral resources."