Vast Resources plc, the AIM listed mining company with operations in Romania and Zimbabwe, is pleased to report an update on zinc sales and production from its Manaila Polymetallic Mine in Romania.
The Company 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% zinc. Sales of zinc concentrate have commenced with a sale of 200 dry metric tonnes in mid-December 2016.
With Manaila currently producing approximately 80 DMT 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, the Company 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.