AIM-quoted mining company Vast Resources, with operations in Romania, Tajikistan, and Zimbabwe, announced the continuation of production activity at the Băița Plai polymetallic mine in Romania, but also the fact that it has initiated discussions regarding a partnership (joint venture) with other mining companies to attract foreign investment in the Romanian mine, according to Economica.net.
At the Băița Plai polymetallic mine in Romania, Vast continues its production activity in parallel with drilling and reprofiling works of the underground structure, according to Vast's operational update.
For Băița Plai, Vast reported 13,562 tonnes mined during 2H24 and the production of 307.8 tonnes of copper concentrate at an average grade of 18.06% copper for the period.
In a note on Manaila Polymetallic Mine (another of Vast's projects in Romania, 100% owned by Vast's wholly owned subsidiary, Vast Resources Romania) in Romania, Vast said it was in discussions with potential off-takers and financiers to recommence mining operations the second half.
Updating progress at the former Hanes Gold Mine in Romania (another Vast project), operated under a management contract, Vast said: "The Company has commenced development on site at the former Hanes Gold Mine after a heavy winter."
"A gravity concentrator has been installed to extract gold and polymetallic alluvial minerals directly from the surface and is expected to commence production at Hanes during the current quarter. At the same time, facilities are now ready for the Company to truck sizeable quantities of ore to Baita Plai for processing, for which the owners of the mine have been required to obtain further transport permitting in view of the substantial quantities involved. These permits have been applied for and are expected to be approved during the current quarter."
Vast also announced that it was in receipt of separation tests for its Blueberry Gold Project in Romania that did not involve the use of cyanide.
iulian@romania-insider.com
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