Romania’s mineral resources agency ANRM granted Vast Resources the prospecting license for an additional area of approximately 1.323 square kilometers of the mine.
Andrew Prelea, Vast Resources president and CEO, said that the company targets the increase of the life-of-mine, which triggers substantial investments in the mine infrastructure and around the mine.
The extension of the exploring zone came after historical exploration indicated potential orebody extensions to both the northwest and southeast.
In the upcoming years, the company wants to develop the Manaila mine both at the surface and underground.
Vast Resources plans to build a modern flotation plant and a laboratory near the mine for optimizing the exploitation operations.
Vast Resources was founded in late 2005 and its core activity consists of exploration of mineral deposits in Zimbabwe and Southern Africa. In addition to the activity in Africa, in May 2013, Vast Resources has turned its attention to Romania, in view of developing its business strategy.