Vast Resources has said that it has worked out a road map to finalise agreements that will enable the Company to commence mining for diamonds on the Heritage concession in Zimbabwe.

The plan emerged after the Company’s senior management held meetings with local community leaders and the parastatal Zimbabwe Consolidated Diamond Company (ZCDC), in  Harare, a short while back.

“The agreements concerning the Heritage concession will now be directly finalised between Vast and the ZCDC rather than the local community, but the local community will be maintained as a beneficial recipient of shared profits in accordance with an initial agreement,” Vast announced.

The Company’s CEO, Andrew Prelea commented: “After taking part in the meetings last week with our senior management, the community chiefs and ZCDC, I am pleased to say that the timeline to closing the agreements will now be accelerated. I plan to return to Zimbabwe shortly for what I hope will be the finalisation of the contractual terms, and also to establish the commencement of the project.”

He added: “This amendment to the structure of the arrangement should not only accelerate the process to commencement, but should also provide the Company further opportunities to work with the ZCDC.”