UK Company Vast Partners Local Trust To Mine Diamonds In Mutare

A UK Company, Vast Resources PLC, has been granted the right to mine diamonds in the Marange Diamond Fields in Zimbabwe. The company has been appointed a partner in the mining of diamonds by the Chiadzwa Community Development Trust to mine on the Heritage Concession, Block T1A of the fields.

Vast is listed on the London Stock Exchange’s Alternative Investment Market, which is market for smaller, growing companies. It has operating mines in Romania and Zimbabwe.

The Chiadzwa Community Development Trust is associated with the Marange-Zimunya Community Share Ownership Trust, which is owned by Red Mercury Ltd and has received an undertaking from the Zimbabwe government.

Vast CEO Andrew Prelea visiting community leaders in Marange, 2018

Botswana Diamonds PLC, who is Vast’s joint venture partner in the Heritage concession in Zimbabwe, has noted the announcement from Vast last week. The two companies had signed an agreement to develop concessions Marange diamond fields, with Vast holding an 87% stake and Botswana a 13% interest.

In a statement released to the London Stock Exchange Vast said

“[We are]pleased to announce that the Chiadzwa Community Development Trust has in principle been granted the right to mine diamonds in joint venture on the Heritage Concession (Block T1A of the Marange Diamond Fields) and has appointed Vast as its joint venture partner in the exploration and mining of diamonds in the area.”

Russian miner Alrosa and China’s Anjin Investments have also been invited to return to the county, the Zimbabwe Consolidated Diamond Company (ZCDC) said earlier this month.

Related:

More: newZWire, Morning Star


Quick NetOne, Telecel, Africom, And Econet Airtime Recharge

If anything goes wrong, click here to enter your query.

ChiadzwaWinston Chitando

Chiadzwa is an area which falls under Marange. It was well known for its vast diamond reserves and alluvial mining. Chiadzwa was at the centre of activity between 2003 and 2006 due to massive informal diamond mining which was taking place. The area attracted informal... Read More About Chiadzwa

Winston Chitando is a Zimbabwean and the current Minister of Mines and Mining Development. He was appointed to his this ministry by President Emmerson Mnangagwa in November 2017. Read More About Winston Chitando

News On WhatsApp

Tap to join WhatsApp Group(no discussions)
https://chat.whatsapp.com/EYWuiN8E9RZIMDkVwgPPDt

If you find the group full, please notify us on +263 777 784 119 or +263 732 464 000.

Comments

Back to top

Write a Comment

Your email address will not be published.