EXPLORATION & DEVELOPMENT

Vast moves closer to Baita Plai mining

Vast Resources (AIM:VAST) has moved another step closer to mining at the Baita Plai polymetallic project in Romania after it submitted a joint application with state-owned company Baita SA, which holds the head licence, to Romania’s National Agency for Mineral Resources (ANRM) for the grant of an association licence.

Staff reporter
Vast is on track to start mining activities at Baita Plai in Romania

Vast is on track to start mining activities at Baita Plai in Romania

The minister of the economy accepted the agreement in June and, if granted by ANRM, the association licence would give Vast's 80%-owned subsidiary African Consolidated Resources the right to mine at Baita Plai.

The company said the joint application was in its final stage after a long legal and administrative process and it said it had "reason to believe that the actual grant of the association licence will follow shortly".

It will then be able to start mining activities.

In January, Vast signed an offtake with Mercuria Energy Trading for up to 100% of the copper and zinc concentrate produced at its Manaila and Baita Plai projects in Romania.

Vasta'a shares moved up 1,52% on the news to 0.64p (US0.83c) Monday. 

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