Botswana Diamonds and Vast Resources have announced that their partner in the development of diamond mining and exploration in Zimbabwe, the Chiadzwa Community Development Trust has in principle been granted the right to mine diamonds in joint venture on the Heritage Concession (Block T1A of the Marange Diamond Fields) and has appointed Vast as its joint venture partner in the exploration and mining of diamonds in the area.

The Company is aware that the Chiadzwa Community Development Trust is associated with the Marange-Zimunya Community Share Ownership Trust, the community trust named in the Company's original announcement on the Heritage Concession.

The announcement comes soon after the Zimbabwe government said that two overseas companies, ALROSA and Vast Resources, had been selected as the only two foreign miners which could explore for diamonds in Zimabwe under the new relaxations in regulations relating to foreign companies participating in the diamond mining sector.

In August last year, Vast had announced that it was entering into a JV with Red Mercury Ltd - a company owned by the Marange-Zimunya Community Share Ownership Trust - for the Heritage diamond concession area.