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September 19, 2020
COMPANIES ECONOMY ENERGY INDUSTRY

Vast Resources develops private mining in our country

+ The British company plans to modernize the mines in Manaila and Baita Plai with the use of local resources

 

Vast Resources is continuing this year its series of investments in Romania, thus creating more jobs. The mining company has already started the works through which it plans to double the production capacity of the mine in Manaila (Suceava county) and to modernize the infrastructure of the mine located in Baita Plai (Bihor County) in order to improve its safety.

The company started the works in February, so that this year one of the company’s main goals is the gradual development of the two mines. “In the case of both projects we plan to invest in new equipment and technologies but also in training for employees. Such operations entail costs of millions of Dollars and we want to implement them with the help of Romanian suppliers. One of our company’s policies is to use local resources as much as possible,” Vast Resources President and CEO Andrew Prelea stated.

In the case of the mine in Manaila, Vast Resources plans to build a modern flotation installation and a laboratory right next to the mining centre, which will allow the optimization of extraction operations, so that their efficiency rises and transport costs drop.

On the other hand, Vast Resources also started the process of modernizing the pumps at the mine located in Baita Plai. At the same time, access elevators and the mine’s galleries are also being rehabilitated, in parallel with the infrastructure of the ventilation and electric systems.

“The safety of our personnel is one of our main preoccupations. That is precisely why in 2016 we will continue the training programmes organized for our mining, metallurgy and geology engineers. We will bring foreign experts who will work alongside our Romanian team and we are convinced that both teams will have much to learn from each other,” Andrew Prelea said.

The mining company’s activity consists of mining for polymetals and the long-term investments will focus on the maintenance and rehabilitation of the mines and on supporting local communities.

Vast Resources was established at the end of 2005, its object of activity being the exploration of mineral deposits in Zimbabwe and South Africa. To round off its activity in Africa, in May 2013, Vast Resources focused on Romania, in order to develop its business strategy.

The company is using the newest exploration technology, such as spatial data management software, 3D imaging, new geophysical modelling techniques, geochemistry and risk management elements, whose goal is to support the projects in their long-term development process. Thus, Vast Resources easily transitioned from being a simple exploration company to being a mining company with a portfolio of high-quality assets.

 

 

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