AIM-listed Vast Resources is still optimistic about concluding the long-awaited joint venture between its subsidiary Katanga Mining and the Zimbabwe Consolidated Diamond Company (ZCDC).
Company chairperson Brian Moritz said discussions are continuing to finalise the right to mine diamonds at the community diamond concession.
“Our discussions with the various Zimbabwe stakeholders remain in line with previous expectations, other than on timing, and we remain confident that we will be able to commence our mining operations in due course,” he said.
The conclusion of the deal was initially stalled by the COVID-19 lock-down measures in Zimbabwe.
It was not clear what is now slowing the deal as Zimbabwe continues to relax the lockdown measures.
Katanga Mining - a joint venture between Vast and the Chiadzwa Community Development Trust is expected to work with the ZCDC to develop the Chiadzwa (Marange) concession.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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