Proactive Investors - Run By Investors For Investors

Tango Mining says Oena mining licence has been renewed for nine years

Oena covers a 4.8 km strip along a 15 km length of the lower Orange River, in Northern Cape Province.
Tango Mining says Oena mining licence has been renewed for nine years
The mine is in South Africa

Tango Mining Limited (CVE: TGV) told  investors that its right to mine at the Oena diamond mine in South Africa had been renewed for a further nine years.

Oena  covers a 4.8 kilometre (km) wide strip along a 15 km length of the lower Orange River, in Northern Cape Province.

This is a well-established alluvial diamond-mining province known to produce high quality and large sized diamonds.

Last month, the group updated the market on its latest diamond sales from the mine.

During the most recent production period, ending March 14 this year, that a total of 159.34 carats or 106 diamonds were produced, and placed on tender in Kimberley.

The diamonds were sold at an average price of US$864 per carat. This includes an 8.47 carat diamond which sold at US$2,896 per carat.

Chief executive Samer Khalaf said diamond production from Oena, since acquisition, including production from both run of mine (ROM) material as well as pan tailings, now totals 1,660 carats.

Tango also said Monday that it had terminated its services agreement for the mining and marketing of diamonds with Txapemba Canguba R.L (Txapemba) -  mutually agreed by both parties.

View full TGV profile View Profile

Tango Mining Timeline

Related Articles

1548107930_757z468_1547086607_strick.JPG
January 21 2019
The company hopes to establish a nickel development on Cathedrals Belt, an exploration area it majority owns.
coal
September 04 2018
Regency’s partner LHC (Legacy Hill Coal) is the operator of MET and has a 53% stake, with the UK business owning the rest
Project map showing two JORC resources
January 21 2019
The project has upside potential for larger porphyry copper‐gold discoveries.
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use