A road map to finalise agreements that will enable Aim-listed Vast Resources to mine for diamonds on the Heritage concession, in Zimbabwe, has been established.
This follows after meetings between the company’s senior management, local community leaders and parastatal Zimbabwe Consolidated Diamond Company (ZCDC), in Harare, last week.
The agreements concerning the Heritage concession will now be directly finalised between Vast and the ZCDC rather than the local community, but the local community will be maintained as a beneficial recipient of shared profits in accordance with an initial agreement.
“I am pleased to say that the timeline to closing the agreements will now be accelerated.
“I plan to return to Zimbabwe shortly for what I hope will be the finalisation of the contractual terms and also to establish the commencement of the project,” says Vast CEO Andrew Prelea.