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Tango Takes On Two New Mines
Sep 13, 2018 8:57 AM
By Rapaport News
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RAPAPORT... Tango Mining has expanded its portfolio with the acquisition
of a Liberian mine, as well as signing an agreement to finance an alluvial
project in Angola.
The miner has bought an 80% share in the Mano River Project
in Liberia from West Mining. The purchase gives Tango exploration rights on a
104.3-square-kilometer area of the asset.
Additionally, the Canada-based miner has signed a service
agreement with Cooperativa Mineira Do Moquita for the mining and marketing of
diamonds from an alluvial project in Angola, just north of Lucapa’s Lulo mine. Under
the terms of the contract, Tango is responsible for financing the design of the mine, as well as acquisition of equipment and improving the asset’s production.
The miner will receive 60% of the proceeds from diamond sales the project
generates.
Tango also owns the Oena alluvial diamond mine in South
Africa.
Image: Alluvial diamonds by a river
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Tags:
Angola, Cooperativa Mineira Do Moquita, Liberia, lucapa, Lulo, Mano River Project, Oena, Rapaport News, tango, Tango Mining, West Mining
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