Vast Resources, the company that operates the Mănăila mine in Suceava county has signed at the beginning of September an important off-take agreement with one of the biggest trading companies specialized in non-ferrous materials.
Vast Resources and Transmine Trading have signed this month a long term agreement for the concentrates produced at the Mănăila mine. Thereby, one of the oldest non-ferrous materials trading companies in the world will purchase the ore concentrates produced in Mănăila, starting from September.
The agreement between the two companies was signed for September 2016 – December 2017. This comes as a confirmation of the quality increase of the concentrate extracted from the pit in Suceava, which reached a purity percentage of 20% for copper. Therefore, in the first month of collaboration, Vast Resources will sell to the new partner 430 tons of copper concentrate.
“The results of the significant improvements that Vast Resources` experts have brought to the separation process for copper and zinc concentrates are getting better and better. We are glad that a world class player like Transmine Trading appreciates the quality of our product and chose to be our partner,” said Andrew Prelea (photo), President and Executive Director of Vast Resources Romania.
The mine in Mănăila is going through a development process which aims at improving the quality of extracted ore and upgrading the processing technology used. At present, Vast Resources has started implementing the second phase of the optimization process, that includes the commissioning of a second float line to separate the zinc. This is a new step ahead for the company, as the new flotation plant will allow it to produce two tipes of saleable concentrates and thus maximse the revenue from these operations.
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.