Vast Resources: Over USD 5 M invested last year in the two mines it owns in Romania

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UK-based Vast Resources invested further USD 5.5 million in 2016 for the two polymetallic mines that it operates in Romania – Manaila (Suceava County) and Baita Plai (Bihor County), a press release informs.

“During 2016 we went through several significant stages as far as the evolution of Vast Resources Romania is concerned. At the end of last year we have managed to have a USD 3.3 million turnover, which is a success, considering that it is the first year of production in Suceava”, Andrew Prelea, President and Executive Director of Vast Resources Romania said.

According to him, 2016 was a year of historical importance for Vast Resources in Romania, as it was the first full year in which the production at Manaila has started, since it is managed by this company. The mine and the production plant have been modernized, there have been implemented eco-friendly techniques for improving the quality of extracted materials as well as extending the life of the mine. These activities have also increased the number of employees.

In parallel, Vast Resources continued the maintenance of the mine in Baita Plai, in order to prepare it for the moment the production from the polymetallic mine in Bihor will start.

The company also started a unique drilling project to confirm the presence of mineral resources in the tailing ponds of the mine in Baita Plai. This was a first step in the process of greening the area, which involves reprocessing the materials accumulated over 40 years of mining.

“In 2017, Vast Resources will continue investing in the development of the two mines, in the ongoing projects and in initiating new projects in our country,” the company pointed out.

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