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Highlights
Group technical services division formed to evaluate current assets across Romania, Tajikistan, and Zimbabwe
Diamond quality review underway with initial planned via public or private tender in Dubai
Romanian operations to undergo technical reassessment, focusing on Baita Plai and Manaila-Carlibaba mines
Vast Resources PLC (LON:VAST), listed on the FTSE AIM UK 50 Index, has released an operational update detailing the establishment of a technical services function aimed at refining the company’s asset management strategy. The company operates within the mining sector, with activities spanning multiple international sites.
The formation of this group brings together experienced professionals, including mining engineers, geologists, and operations managers, who will lead the evaluation and long-term planning for Vast Resources’ asset portfolio. The review will focus on operational sustainability and technical efficiencies, particularly across projects in Romania, Tajikistan, and Zimbabwe.
Diamond Operations and Activity
Early-stage cleaning of a representative parcel of diamonds has provided promising indications regarding the quality of the stones. Preparations are in motion for an initial diamond, expected to occur via either public or private tender in Dubai. This process aligns with the company’s broader strategy to optimise returns from existing resources.
Romanian Asset Review Initiated
A comprehensive technical assessment is scheduled for the Baita Plai Polymetallic Mine located in Romania. The planned review, set for the third quarter of the year, aims to define a refined mining approach that enhances operational execution. Among the objectives is the development of a drilling programme and mine plan that aims to reinforce and expand the confidence levels of the current JORC-compliant resource and reserve statements.
Additionally, the technical team will review options for restarting operations at the Manaila-Carlibaba Copper Mine, also situated in Romania. This evaluation is projected to take place during the latter half of the year, forming part of the company's broader operational recalibration within the region.
Strategic Focus and Operational Planning
The shift towards a technically driven approach marks a significant milestone for the company. Emphasis is being placed on thorough assessment and structured implementation of mining strategies, with Romania playing a central role in the upcoming planning phases.
While diamond are expected to begin shortly, the ongoing work on the Romanian sites highlights the company’s efforts to align resource extraction activities with modern operational standards and sustainability considerations. These developments follow recent events surrounding the return of a historic diamond parcel, which has further emphasised the importance of resource evaluation and management.
Vast Resources PLC continues to align its operations with a broader plan to enhance technical processes and refine its asset strategy, contributing to its evolving role within the mining landscape under the FTSE AIM UK 50 Index.
