Vast, CMR clinch deal

Tawanda Musarurwa

London Stock Exchange-listed mining group Vast Resources is ready to hit the ground running on its diamond project after it signed a joint venture agreement with Chiadzwa Mineral Resources (CMR) to establish Katanga Mining (Pvt) Limited.

Vast Resources is looking to develop the Heritage diamond concession in the Marange diamond fields in Chiadzwa, and CMR essentially represents the Chiadzwa community interests.

According to Vast, a further joint venture agreement between Katanga and the Zimbabwe Consolidated Diamond Company (Pvt) Ltd (ZCDC) is set to be officially signed early next month.

And details of the Chiadzwa joint venture will be announced at the same time as the announcement of the ZCDC joint venture to which it is linked.