Vast Resources operations at Baita Plai Polymetallic Mine could start before end-2017

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Vast Resources plc, the AIM-listed mining company, announces that the company’s subsidiary, African Consolidated Resources SRL (AFCR), has been selected by Baita SA, the holder of the head-licence at the Baita Plai Polymetallic Mine in Romania, to be granted the right to mine polymetallic ore from Baita Plai, a press release informs.

”African Consolidated Resources SRL was chosen to be granted the right to mine at Baita Plai as part of a competitive selection process, implemented in line with the previously announced step plan to expedite the grant of the association on the mining licence 999/1999,” the release reads.

The company now awaits execution of the final association licence which is subject to the normal due process which includes a Ministerial Agreement, regulatory approvals from Romania’s National Agency for Mineral Resources (ANRM) and the final negotiations of the terms and conditions of the association licence.

These steps are intended to be implemented in the shortest possible time to allow the company to start operations at Baita Plai before the end of 2017.

Vast will advise the market as soon as the regulatory steps mentioned above have been completed.

Last spring, British mining company Vast Resources has announced that the last drilling activities from the tailing dams in Baita Plai, covering 630 meters, confirmed the presence of larger quantities of copper, zinc, lead and even silver than previously estimated.

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