Vast Resources obtains extension of prospecting license for Manaila mine, Investors
British Company Vast Resources has obtained an extension for its prospecting license from the National Agency for Mineral Resources, giving it green light to explore the mineral potential of an additional surface of 1,323 square kilometres, according to a company press release.
Starting this April, the company will commence new prospecting activities at the Manaila site, aiming to extending the mine’s life.
The choice of enlarging the exploration area came after historical data analysis showed an expansion of polymetallic ores in the north-western and south-eastern parts of the career, adds the press release. In the upcoming years, Vast Resources is aiming to extend the Manaila mine both at the surface level and underground. “Our wish is to succeed in extending the life of the mine in Manaila by as many years as possible,” said Andrew Prelea, Vast Resources president and executive director. “For our company, this translates into a series of substantial investments, in what concerns both the mine’s infrastructure and the surrounding area and in the workforce of the mine,” he further stated, adding that the company’s policy of working with local providers remains valid. “We hope that the Iacobeni-Manaila area itself will develop considerably.”
In 2016, Vast Resources aims to build a modern flotation plant and a new laboratory near the site at Manaila, further said the press release.
Vast Resources was founded in late 2005, with the exploration of mineral deposits in Zimbabwe and Southern Africa as its main activity. In May 2013, Vast Resources turned its attention to Romania in addition to its activity in Africa.
- June 14, 2023 The Serbian Institute for Critical Materials launches a regional mining platform for knowledge exchange
- April 24, 2023 Without sustainable mining, there is no renewable future
- March 25, 2023 Europe revives mining to reduce dependence on the import of key raw materials
- March 8, 2023 Calcium Carbonate Industry, Reshaping the Market Growth, Serbian supplier to match European industrial demand
- August 13, 2023 Environment South East Europe Watch temporarily suspends the activity
- August 9, 2023 Regional Coalition Aims to Protect Up to 400 Kilometres of Rivers Across Southeast Europe
- August 9, 2023 Meeting Serbia’s Energy Needs: A Smart Siting Map for Solar Power