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Vast resources ready for Zimbabwe diamond mining

Vast resources ready for Zimbabwe diamond mining

Andrew Prelea

Vast Resources Plc (Vast) says it has raised US$393 130 through a placement and subscription of shares as it prepares for the signing of a joint venture contract at Chiadzwa.

This comes as the Aim-listed diversified miner last week announced it is disposing its gold business in the country to enable the group to refocus on its two growth opportunities – the Heritage diamond concession in Zimbabwe and Baita Plai polymetal mine in Romania.

Meanwhile, Zimbabwe’s exports to the UK have increased by 276 percent to US$112 million in 2018 from US$30 million in 2012, according to ZimTrade, with Harare now working on strengthening bilateral and trade ties with London in preparation for BREXIT.

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The UK is preparing to leave the European Union in the next few months and Zimbabwe has already drafted a bilateral trade agreement in preparation for BREXIT to strengthen the already existing trade relationships, ZimTrade said yesterday.

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