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.


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