RE: excellent news !!22 Sep 2020 13:01
Zimbabwe Operations Update
Vast Resources plc, the AIM-listed mining company, is pleased to update the market on its
operations in Zimbabwe.
The Company is proud to announce that Mark Mabhudhu, Executive Director of the Company’s
Diamond Division, has received an offer to join the Government owned Zimbabwe Consolidated
Diamond Company “ZCDC” as Chief Executive Officer starting immediately. Following a period of
consultation with both the Company and the relevant Government of Zimbabwe Officials, a
process that included a full disclosure as part of averting any possible conflict of interest, Mark
Mabhudhu has accepted this role. As a result he will leave his current role with the Company.
The Company can confirm that its highly skilled geological and technical team remain employed
by the Company and that it has identified a high level COO to manage the project who shall be
engaged upon confirmation of the signing of the Joint Venture.
Mark Mabhudhu’s primary role will be to focus on the diamond sector’s contribution towards the
Zimbabwean Government’s 2023 $12bn mining vision which is also driven by the attendant
implementation of Joint Ventures between the ZCDC and investors in the diamond sector.
The Company can also confirm that this personnel change in Zimbabwe will not pose any
impediment to the finalisation of the anticipated Joint Venture Agreement between the Company’s
Subsidiary in respect of the Chiadzwa Community Diamond Concession.
Further details regarding the finalisation of the Chiadzwa Community Diamond Project will be
communicated to the market as and when they occur.
Andrew Prelea, Chief Executive Officer of Vast Resources PLC Commented:
“Whilst we are of course sad to see Mark (Mabhudhu) leave Vast Resources PLC, we are
extremely excited that we will be able to continue to work with him in his new role within the
diamond mining sector in Zimbabwe. We are confident that with Mark in his new role, the diamond
mining sector in Zimbabwe will be set for a new high.
“On behalf of the Board and Mangement Team, I would like to thank Mark for all of his efforts and
wish him all the best for the future and stress that he will always have an open door to return to the
Company when he finalises his mandate at the ZCDC.”
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