UK firm readies for Zimbabwe diamond mining

UK firm readies for Zimbabwe diamond mining
Published: 16 April 2019 (43 Views)
United Kingdom-based Vast Resources Plc (Vast) says it has raised £300 000 (US$393 130) through a placement and subscription of shares as it prepares for the signing of a joint venture contract at Chiadzwa.

This comes as the Aim-listed diversified miner last week announced it is disposing its gold business in the country to enable the group to refocus on its two growth opportunities – the Heritage diamond concession in Zimbabwe and Baita Plai polymetal mine in Romania.

Meanwhile, Zimbabwe's exports to the UK have increased by 276 percent to US$112 million in 2018 from US$30 million in 2012, according to ZimTrade, with Harare now working on strengthening bilateral and trade ties with London in preparation for BREXIT.

The UK is preparing to leave the European Union in the next few months and Zimbabwe has already drafted a bilateral trade agreement in preparation for BREXIT to strengthen the already existing trade relationships, ZimTrade said yesterday.

- Daily News

Tags: UK, Firm, Diamond,
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