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Vast remains optimistic of concluding Zim diamond JV deal

08 february 2021
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Image credit: Vast Resources


Vast Resources is still confident of concluding the long-awaited joint venture between its subsidiary Katanga Mining and the Zimbabwe Consolidated Diamond Company (ZCDC).
Company chief executive Andrew Prelea said in an interim report for the period of 1 May 2020 to 31 October 2020, which was published last week that the agreement would be sealed once the COVID-19 lock-down measures in Zimbabwe are relaxed.
Zimbabwe recently extended its tough lockdown to mid-February as the COVID-19 pandemic continues to wreak havoc in the southern African country.
"We continue to remain confident that we will be able to conclude a diamond mining agreement with ZCDC once Covid-19 lock-down measures are lifted in Zimbabwe," said Prelea.
Company chairperson Brian Moritz also said in the same report that they look forward to concluding the JV agreement with the ZCDC chief executive Mark Mabhudhu, who was the company's executive director of diamonds division before his departure to head the state entity last September.
Katanga Mining - a joint venture between Vast and the Chiadzwa Community Development Trust will work with the ZDC to develop the Chiadzwa concession.   

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished