London-based Vast Resources admitted to industrial base-focused US consortia
Aim-listed copper, gold and silver producer Vast Resources has been admitted as a member of the US Defence Industrial Base Consortium (DIBC) and the Cornerstone Consortium.
DIBC is a US Department of Defense-supported initiative managed by Advanced Technology International. In turn, Cornerstone is the only US government-managed 'other transaction agreement' consortium within the Department of Defense to strengthen US manufacturing and the defence industrial base.
Vast's membership in the consortia provides the company with valuable access to a collaborative network of US defence stakeholders, industry partners and potential funding and prototyping opportunities under the 'other transaction authority' framework.
Vast says its membership of the two consortia strengthens its position within the growing network of companies, research institutions and government partners working to enhance the resilience and security of North American and allied critical mineral supply chains that support defence, aerospace, advanced manufacturing and national security priorities.
"Being admitted to DIBC is a significant milestone for Vast. It reflects the strategic importance of our critical minerals portfolio, particularly in the context of our expansion into Tajikistan as well as our existing portfolio of assets in Romania. It aligns directly with the urgent need for secure sources of materials essential to defence and industrial applications," says Vast CEO Andrew Prelea.
While membership in the consortia does not guarantee contracts or funding, it positions the company to more effectively demonstrate the strategic relevance of its assets and participate in initiatives aimed at reducing reliance on non-allied-controlled sources of critical minerals.
Vast owns the Baita Plai and Manaila-Carlibaba polymetallic mines in Romania, which are currently on care and maintenance, as well as the Blueberry Gold, Hanes and Zagra projects. In Tajikistan, Vast owns a 49% beneficial interest in the Aprelevka joint venture (JV), with government holding the balance.
The project provides exposure and management control of a portfolio of producing and near-term production gold and silver assets.
The Aprelevka JV operates four active mining licences along the Tien Shan Gold Belt, delivering production of about 11 000 oz/y of gold and about 130 000 oz/y of silver.
