Vast Resources PLC (LON:VAST) jumped 20% after the Zimbabwe mining ministry said it will finalise its side of the Chiadzwa joint venture in the Marange diamond fields this month.

Vast has received official communication from the Ministry of Mines and Mining Development to the effect that all internal processes leading to the conclusion of the Joint Venture are expected to be finalised during the month of March 2020, it said in a statement.

State-owned Zimbabwe Consolidated Diamond Company (ZDC) will work with Katanga Mining – a joint venture between Vast and the Chiadzwa Community Development Trust – to develop the diamond deposit.