PUNT OF THE WEEK: Vast Resources aims to develop mines in Romania and Zimbabwe

By CITY & FINANCE REPORTER FOR THE DAILY MAIL

Updated:

What is it?

Vast Resources works in Romania and Zimbabwe, and aims to develop mines extracting commodities from copper and gold to lead and zinc to diamonds.

What’s the latest?

This week a joint venture agreement with Chiadzwa Mineral Resources, which represents local community interests in Zimbabwe. 

This will allow Vast to begin a landmark diamond mining project in the rich Marange diamond fields, which could generate £12million of revenue in just six months.

Who backs it?

Hargreaves Lansdown customers are the biggest combined shareholder. It owns 6.8 per cent on behalf of its clients. 

Vast has a rather unusual shareholder register. A slew of other small investors make up the top ten, along with a fund run by US asset manager Bergen.

Why should you invest?

The Chiadzwa agreement is a major development and the first project where the community benefit directly.

And why shouldn’t you?

The Marange fields are also notorious, and have been subjected to EU sanctions on Zimbabwe’s state mining company over corruption concerns.

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