News

Advanced Search

Tango Takes On Two New Mines

Sep 13, 2018 8:57 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


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
Tags: Angola, Cooperativa Mineira Do Moquita, Liberia, lucapa, Lulo, Mano River Project, Oena, Rapaport News, tango, Tango Mining, West Mining
Similar Articles
Stornoway Godin.Stornoway Names Patrick Godin as CEO
Nov 15, 2018
Stornoway Diamond Corporation has appointed a new CEO after reporting its third successive quarterly loss.
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.