COMPANIES ECONOMY ENERGY

Vast Resources obtains prospecting license for an extended perimeter of the polymetallic mine in Manaila

Starting from this April, Vast Resources starts new prospecting activities at the site in Manaila, that aim to extend the life of this mine. By obtaining from the National Agency for Mineral Resources an extension of the exploration license, the British have green light in conducting research activities for the mineral potential of an additional surface of 1.323 km².

The choice of enlarging the exploration area was the result of a close analisys over the historical data registered up until now, that have showed an expansion of polymetallic ores in the northwestern and southeastern parts of the career. Following the activities that have already started, the British company aims to extend the mine in Mănăilă both at the surface and uderground, in the upcoming years

„Our wish is to succeed in extending the life of the mine in Mănăilă with as many years as possible. For our company, this translates into a series of substantial investments, in what concernes both the mine`s infrastructure and the surrounding area and in the workforce of the mine. Vast Resources` policy of working with local providers remains valid, so we hope that the Iacobeni-Mănăilă area itself will develop considerably,” said Andrew Prelea, President and Executive Director of Vast Resources.

In 2016, Vast Resources has announced major investments in Romania for this year and it aims to build, at Mănăilă, a modern flotation pland ant a new laboratory near the site, for the exploitation operations to be optimized.

 Vast Resources was founded in late 2005, having the exploration of mineral deposits in Zimbabwe and Southern Africa as main activity. In addition to the activity in Africa, in May 2013 Vast Resources has turned its attention to Romania, in order to develop business strategy.

The company uses the latest technology for exploration, such as software for managing spatial data, 3D visualization, new geophysical and geochemical modeling techniques and elements of risk management, which aim to support the long term development of the projects. Thereby, Vast Resources easily made the transition from a simple exploration company to a mining company with a portfolio of high quality assets.

 

Related posts

Romgaz H1 net profit down 12pct to 766.6m lei

Nine O' Clock

AgriMin Daea: Some products are sold by their label, not by their content

Nine O' Clock

Rail Reform Authority to be set up, tasked with coordinating rail network restructuring

Nine O' Clock