Vast Resources, the AIM-listed diamond mining company, has established a road map with all key stakeholders which will enable it to mine diamonds on the Heritage Concession in Zimbabwe.
This follows meetings that took place in Harare last week between Vast Resources senior management, the local community leaders and the parastatal Zimbabwe Consolidated Diamond Company Ltd (ZCDC).
The agreements concerning the Heritage Diamond Concession will now be directly between the company and the ZCDC rather than the local community, but the local community will be maintained as a beneficial recipient of shared profits as per the original agreement.
Andrew Prelea, CEO of Vast Resources, comments:
“After taking part in the meetings last week with our senior management, the community chiefs and ZCDC, 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.
“This amendment to the structure of the arrangement should not only accelerate the process to commencement, but should also provide the company further opportunities to work with the ZCDC.”