“The production profile of our Manaila Mine continues to improve as we target higher tonnages, higher grade copper and zinc concentrates and now a third revenue stream in the form of a gold/silver concentrate. Commercial production of this concentrate will directly enhance Manaila’s financial performance and I look forward to presenting our next quarterly production report with this in mind,” said Roy Pitchford, Chief Executive Officer of Vast.
Andrew Prelea, executive director and president of Vast Resources Romania, said experts at the Manaila mine found the solutions needed to separate the zinc and copper concentrates, but they also identified the separation potential of the gold and silver concentrate. Therefore, he added, there will be a significant production of gold and silver concentrate each month, starting 2017.
Vast Resources operates mines in Romania and Zimbabwe.
Vast Resources was founded in late 2005 and its core activity consists of exploration of mineral deposits in Zimbabwe and Southern Africa. Vast Resources has been operating in Romania since May 2013.
Vast Resources has recently acquired 49.9% of the shares of commercial company Sinarom Mining Group, from Chinese businessman Ni Jinming, acquiring full control of Sinarom Mining Group SRL, which owns the Manaila Polymetallic Mine. The value of transaction exceeded $1 million.