Vast sees increased revenue from Manaila mine in Romania

Vast Resources, the AIM listed mining company with operations in Romania and Zimbabwe, reports an update on zinc sales and production from its Manaila polymetallic mine in Romania. Vast commissioned a zinc concentrate flotation line in September 2016, providing Manaila with a second product and revenue stream in addition to its copper concentrate. During the past three months, work has been undertaken to improve the grade of the zinc concentrate, which has resulted in Manaila now consistently producing a concentrate in excess of 30% Zn.  Sales of zinc concentrate have commenced with a sale of 200 t (dry) in mid-December 2016. This is just one of dozens of projects covered in International Mining Project News (published fortnightly) – ask [email protected] for more information on a subscription.

With Manaila currently producing approximately 80 t (dry) Zn per month, the company’s primary objective is to increase zinc production by up to 85% by the end of H1 2017. In conjunction with increasing production, Vast is also confident that on-going work aimed at enhancing the zinc concentrate grade will achieve a concentrate of approximately 45% Zn.

The Company has also completed the commissioning of the third flotation line at Manaila with the objective of increasing copper production in Q1 2017. As a consequence, Manaila will now have two copper concentrate flotation lines and a zinc concentrate flotation line. A gravity recovery facility is also due to be installed for the purpose of recovering the significant gold and silver contained in the tailings, which will generate a third revenue stream. Installation is expected to commence in January 2017 and the Company anticipates that this will be operational in H2 2017.

Roy Pitchford, Chief Executive of Vast: “The Manaila mine is now really bearing fruit for Vast – the lessons learnt over the past 12 months have been implemented and the mine is now generating cash flow from both copper and zinc concentrate sales. We are encouraged by the performance of Manaila over the past three months and believe that this upward trajectory will continue through the adoption of initiatives to both increase production and improve grade.  In tandem with this, we will also be installing a new gravity recovery facility to separate the significant silver and gold currently reporting in the tailings, and we believe this will be a further considerable boost to Manaila’s overall performance as a long-term profitable mining operation.”