Vast Resources gets USD 10 mln to expand operations in Romania

British mining company Vast Resources, with operations in Romania and Zimbabwe, will receive a USD 10 million investment. The largest amount will be used to expand its mining operations in Romania. The company has reached a preliminary agreement with an investor. Vast Resources hasn’t mentioned the investor’s name, but said that it owns other investments in Romania. Following the capital boost, the investor would get a 29% stake in Vast Resources. "The funds are targeted for capital expenditures and capital requirements, especially for Romanian operations," according to representatives of the British company. In spring, the company, which previously owned a 50.1% in the mining project in Manila, Suceava county, bought the remaining shares from the Chinese investor Ni Jin Ming for about EUR 1 million. Vast Resources starts gold and silver extraction at mine in Romania editor@romania-insider.com