https://www.miningweekly.com
Diamonds|Mining|Resources
Diamonds|Mining|Resources
diamonds|mining|resources

High Court grants release of historic diamond parcel to Vast Resources

2nd February 2023

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

The High Court of Zimbabwe has granted a default order against the Minister of Mines and Mining Development, relating to a historic parcel of 129 400 ct of rough diamonds, which will be released to Aim-listed Vast Resources.

The company expects to receive the signed court order in coming days, following which Vast will clean and value the diamonds for the purpose of selling through a tender.

Vast will determine the final quality assortment of the parcel once the diamonds are in its possession.

The diamonds have been in custody of the Zimbabwean Reserve Bank since 2010, while Vast started with the legal proceedings on the release of the diamonds in December last year, with the intention of agreeing a transparent legal framework pursuant to the release of the parcel.

Vast CEO Andrew Prelea explains the process has taken longer than anticipated, however, after years of hard work and discussion with the Zimbabwean government,  the release of the historic parcel has now been amicably settled, allowing Vast to focus its attention back on other opportunities in Zimbabwe.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.14 0.174s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: