Aim-listed mining company Vast Resources, its 80%-subsidiary African Consolidated Resources (AFCR) and Romanian State-owned Baita, the holder of the Baita Plai licence, have submitted a joint formal application to Romania’s National Agency for Mineral Resources (ANRM) for the grant to AFCR of an association licence.
The association licence will give AFCR the right to mine at Baita Plai, in Romania, which has a 1.8-million-tonne copper/silver/zinc/lead/gold/tungsten/molybdenum orebody.
The joint application at ANRM is the final stage in what has been a protracted legal and administrative process, Vast Resources said in a statement on Monday.
The company believes the association licence will be granted shortly.