Vast Resources Acquires Control Over Sinarom Mining Group SRL, Owner Of Manaila Polymetallic Mine

UK-based mining company Vast Resources PLC, listed on the London Stock Exchange, has acquired 49.9% of the shares of SC Sinarom Mining Group, from Chinese businessman Ni Jinming.

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Imaginea articolului Vast Resources Acquires Control Over Sinarom Mining Group SRL, Owner Of Manaila Polymetallic Mine

Vast Resources Acquires Control Over Sinarom Mining Group SRL, Owner Of Manaila Polymetallic Mine (Image: Theodor Pana/ Mediafax Foto)

Law firm Pavel, Margarit si Asociatii provided legal consulting services to Vast Resources PLC.

Along with the completion of the transaction, Vast Resources PLC acquired full control of commercial company Sinarom Mining Group SRL, which owns the Manaila Polymetallic Mine. This way, Vast Resources also acquired control over the Manaila mine.

Vast Resources operates mines in Romania and Zimbabwe. The value of transaction exceeded $1 million.

Vast Resources was founded in late 2005 and its core activity consists of exploration of mineral deposits in Zimbabwe and Southern Africa. In addition to the activity in Africa, in May 2013, Vast Resources has turned its attention to Romania, in view of developing its business strategy.

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