Tango Mining enters diamond market with Angolan diamond mine partnership

By Dale Benton
A junior diversified Canadian miner, with significant South African coal operations, has announced that it has entered into a partnership to develop dia...

A junior diversified Canadian miner, with significant South African coal operations, has announced that it has entered into a partnership to develop diamond mining projects.

Tango Mining has entered into a partnership with CC Mining Limited (CCML), a wholly owned subsidiary of CC Energy Limited (CCEL) with regard to working on diamond mining projects in Angola.

The partnership will see a $1,300,000 investment that Tango will use toward the development of its Txapemba Project in Angola.

The joint working on the project will be the first of its kind between Tango and CCML and under the agreement, Tango will remain responsible for capital expenditures associated with alluvial mine design and equipment acquisition as well as being the sole operator.

Tango will also receive 60% of the net proceeds from sale of produced stones.
 

Related stories:

BlueRock Diamonds: The junior diamond miner with global ambitions

The global trends of artisanal and small-scale mining

De Beers orders $142 million offshore diamond vessel for Namibia

 

The Txapemba Project

Tango Mining announced in September 2017 that it had signed a three-year renewable Services Agreement for Mining and Marketing of Diamonds with Txapemba Canguba R.L (known as Txapemba.)

The Txapemba project is an 84 square km concession for the semi industrial exploitation of diamond within the Luembe River basin. This location is significant, as it has historical alluvia diamond production and is known for both its alluvial and kimberlite diamonds.

As the world’s fifth biggest diamond producer by value, Angola, has been actively encouraging foreign investment into its diamond sector.

 

Share

Featured Articles

Why Nickel Price Slump has hit BHP so Hard

As mining multinational BHP announces it is mothballing its Australian nickel operations, we look at why China-backed Indonesia has been a game changer

Worley: Tech Key for Copper Ramp-up to be Sustainable

The copper industry must transform processes to scale up copper production within sustainable limits, says Claudio Martinez Global Copper Lead at Worley

Focus on: Gypsum, a Building Block for World Construction

Gypsum is a vital mineral used for making plasterboard and cement, but is also important to the agriculture, food and pharmaceutical industries

EU 'Falling Short' of CRMA Rare Earth Minerals Targets

Sustainability

Caterpillar & Komatsu combine with OEMs on e-Haul Trucks

Supply Chain & Operations

GEM's Methane Warning on Abandoned EU Coal Mines

Sustainability