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New COO for Vast Resources Zimbabwe

By Business Reporter – Monday 28 September 2020

HARARE – VAST Resources diamond subsidiary in Zimbabwean says it has identified a high-level chief operating officer (COO) to manage its Zimbabwean project, who will be engaged upon confirmation of the signing of the Katanga Joint Venture.

The AIM-listed company had eyed to finalise the diamond JV six months ago, after making an announcement  on March 3rd stating it had received official communication that all internal processes leading to the conclusion to the Chiadzwa Community Joint Venture were expected to be finalized in March and the Company‘s announcement of 23 March 2020 confirmed this expectation.

The appointment of the new COO follows the exit of former executive director Mark Mabhudhu, who has now joined the state-owned Zimbabwe Consolidate Diamond Company (ZCDC).

“The Company can confirm that its highly skilled geological and technical team remain employed by the Company and that it has identified a high-level COO to manage the project who shall be engaged upon confirmation of the signing of the Joint Venture,”

“The Company can also confirm that this personnel change in Zimbabwe will not pose any impediment to the finalisation of the anticipated Joint Venture Agreement between the Company’s Subsidiary in respect of the Chiadzwa Community Diamond Concession,”

“Further details regarding the finalisation of the Chiadzwa Community Diamond Project will be communicated to the market as and when they occur,” said Vast Resources in a statement on ‘Zimbabwe Operations Update.’

Andrew Prelea, Vast Resources PLC Chief Executive Officer (CEO) commented:

“Whilst we are of course sad to see Mark (Mabhudhu) leave Vast Resources PLC, we are extremely excited that we will be able to continue to work with him in his new role within the diamond mining sector in Zimbabwe. We are confident that with Mark in his new role, the diamond mining sector in Zimbabwe will be set for a new high,”

“On behalf of the Board and Management Team, I would like to thank Mark for all of his efforts and wish him all the best for the future and stress that he will always have an open door to return to the Company when he finalises his mandate at the ZCDC.” ENDS// www.miningindex.co.zw

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