Vast Resources has responded to allegations that made headlines in the press last week. A online mining publication ran an article entitled “Vast chasing a pie in the sky“. The article alleges the Vast deal was marred by corruption involving pending courts cases, alleged forged documents and fake stamps.
The AIM listed company released a Press Statement below.
Vast Resources plc, the United Kingdom AIM-listed mining company with mines and projects in Romania and Zimbabwe – focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines in Romania and the commencement of the joint venture mining agreement on the Chiadzwa Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe – wishes to comment on the articles published in the Zimbabwean online press during the course of the week commencing 27 April 2020 by way of providing an update on the anticipated Joint Venture between the Company’s subsidiary Katanga Mining Pvt Ltd and the Zimbabwe Consolidated Diamond Company Pvt Ltd (the Joint Venture) in light of the said articles.
As the Company awaits finalisation of the Joint Venture in the post-Covid-19 lockdown period, the Company continues to engage with the Zimbabwe Government, which has warmly welcomed the investment and expects the project to play its part and be a contributor to the country’s economic recovery programme post the pandemic in line with the Governments USD 12Bil Mining Road Map.
Vast Resources PLC and its subsidiaries have, throughout the Joint Venture process, maintained constant dialogue and interaction with the Community and all stakeholders who have formally written to the Company maintaining their support.
The Company continues to act in good faith to the benefit of the Republic of Zimbabwe and the entire community, and always in accordance with the instructions and direction of the relevant governmental authorities.
The Company has always provided updates to the market based on information provided by the relevant Government bodies and backed by documentation, the most recent being the announcement made by the Company on 3rd March 2020.
The Company remains confident that despite the recent COVID19 lockdown and other delays that have arisen in recent months due to matters unrelated to the relationship between the Zimbabwean Government and Vast Resources PLC, the project will be continued to the benefit of all stakeholders
We look forward to providing further updates as we receive official communication from the authorised bodies in Zimbabwe.
