Global witness article - Dec 189 Dec 2018 08:39
In August 2018, Vast Resources, a company
registered in Zimbabwe and the UK with an
interest in gold mining24 in Zimbabwe,
announced that it had gone into partnership
with the Marange-Zimunya Community
Share Ownership Trust25 through the Trust’s
company, Red Mercury, to explore and mine
the ‘Heritage concession’. The entry of Vast
Resources into the diamond industry is
particularly notable given that the company
already has a history in Marange under its
previous name, Africa Consolidated
Resources26 (ACR). ACR was the holder of
registered mining claims in Marange until the government unilaterally cancelled its claims
in 2010. Despite a series of court cases27 the
company was unable to reclaim the
concession. However, eight years on in 2018,
operating under the name Vast Resources,
the company appears to have made a return.
This move may be the beginning of a new
chapter of private investment in the Marange
diamond fields. As such, it is critical that the
groundwork is laid to ensure that the
mistakes of the past are not repeated.