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Vast Resources PLC - mining and mine development in Romania and Zimbabwe - Confirms new new collective bargaining agreement signed with employees of its Vast Baita Plai SA subsidiary, which operates the Baita Plai polymetallic mine in Romania.
"On the morning of June 8, before the commencement of the second day of formal negotiations and prior to negotiations being concluded, the company's mine management team were approached by a small group of underground miners who presented themselves at the Baita Plai Administration Offices in opposition to the formal negotiation process," company says.
It adds: "The negotiations however were already at an advanced stage prior to the gathering and were subsequently concluded without interruption to to either the due process or the company's mining operations."
Due to the expansion of the company's Baita Plai operations, Vast says, it needed a new and standardised agreement with its mine staff. Plans to further increase worker benefits by 15% for the period 2021 to 2023.
"The successful negotiation was concluded by way of reasonable and professional participation from all parties involved without any interruption to the processing plant and minimal disruption of underground mining activities. Mining, concentrate production and sales continue," company adds.
Current stock price: 8.27 pence, down 5.5% on Wednesday
Year-to-date change: down 36%
By Paul McGowan; paulmcgowan@alliancenews.com
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