Vast Resources announce an agreement has been obtained from the Romanian minister of economy in relation to the association licence agreement with Baita SA, the holder of the Baita Plai head licence.
According to Vast this is a major milestone in the companies goal to be granted mining rights at its Baita Plai copper-silver-zinc-lead-gold-tungsten-molybdenum mine in Romania.
CEO of Vast, Andrew Prelea said:
“Following this agreement from the minister matters now lie with Baita SA and AFCR to make the application for the final seal of approval from ANRM and I am confident that this last item should be dealt with quickly and without issue. The importance of Vast receiving the right to mine at Baita Plai cannot be overstated – simply put, this will allow us to begin mining a 1.8 million tonne orebody with a copper equivalent grade of approximately 6 percent, which would transform our production profile.”