‘Vast Resources’ Achieves Landmark Diamond Parcel Release in Zimbabwe

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Vast Resources PLC, a London-listed mining company, has secured the release of a historic diamond parcel in Zimbabwe after a 15-year delay. The diamonds, held by the Reserve Bank of Zimbabwe since 2010, have been transferred to Dubai for cleaning and sorting before an expected sale within a month.

The company hailed the development as a “landmark success” and a sign that Zimbabwe is open to compliant international investment. Following the announcement, Vast share price rose by 9.7%. CEO Andrew Prelea confirmed that this milestone allows the company to re-engage with new mining opportunities in Zimbabwe while advancing projects in Romania and Tajikistan.

Operationally, Vast reported stable copper output from its Baita Plai mine in Romania and progress on restarting the Manaila mine and launching production at the Hannes gold site. In Tajikistan, the company has improved gold recovery rates at the Blueberry project and hit silver production targets at the Aprelevka mine. These developments reflect Vast’s strategy to grow its global mining presence and enhance shareholder returns.

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The company emphasised that the release demonstrates Zimbabwe’s commitment to supporting companies that follow due process, signalling improved conditions for foreign investment. Once valuation is complete, the diamond parcel will be sold, with anticipated deductions of up to 20% from the gross rough value to cover royalties, fees, and associated costs.