BUSINESS

Andrew Prelea takes over as CEO of Vast Resources International Group

Andrew Prelea, President and Executive Director of Vast Resources Romania was  appointed as CEO of Vast Resources PLC.

Andrew Prelea will replace Roy Pitchford, who resigned as CEO of Vast Resources PLC. The change at top management took place on January 1st 2018 and it will be a normal transition. In the following period, the company aims to focus on the mining operations in Romania, focusing on the continuous development of the two polymetallic mines and current exploration and prospecting activities as well as maintain and expand its operations in Zimbabwe.

“Vast is a steady and growing company and we have continued looking for further opportunities since establishing ourselves in Romania. Certainly, in the upcoming period we will focus our efforts on our core business and how to develop it more. The objectives of the Romanian office remain as big as they were and its importance at the international level is increasing”, said Andrew Prelea, future CEO of Vast Resources PLC Group.

Vast Resources Plc has achieved excellent results in recent years, and these are due to factors such as prolonging the life and improving the production process in the Suceava County mine, the rise of the global prices of precious metals, and the changes made in the mine in Zimbabwe. At the Pickstone-Peerless mine there were significant increases in production and revenue over the past two years, due to the investments made in mine opening and expantion. This has led to the construction of a new sulphides plant, which will continue to contribute to increasing the company’s revenue in that area.

In addition, the company’s representatives expect the expansion of the Mănăila mine (the Carlibaba project) and the restarting of the mine work in Băiţa Plai in the next period to make a significant contribution to the growth of these figures.

Andrew Prelea takes over the responsibilities of former CEO, Roy Pitchford, but with far greater business growth targets in both countries over the next few years.

 

About Vast Resources:

 

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

In partnership with the Faculty of International Economic Relations at the Academy of Economic Studies, PwC Romania team teaches an entrepreneurship class within the Master programme “International Business Management”

Nine O' Clock

Aqua Park building permit, suspended

Nine O' Clock

Brent crude price tops 124 USD/barrel, after dollar devaluation

Nine O' Clock