RapNet


Rapaport News

 

Mining

 
Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Tango Pulls Out of Angola Diamond Venture

Company has terminated its contract to mine and market stones from the Moquita project.
Aug 21, 2019 8:57 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Tango Mining has terminated its service agreement to mine and market diamonds from the Moquita project in Angola.

The company, in September, signed on to finance the alluvial project, which is located just north of Lucapa’s Lulo mine. While it did not own a stake in the project, Tango agreed to provide services to the project’s owner, Cooperativa Mineira Do Moquita, in exchange for 60% of diamond sales.

Tango has also canceled two loans it took to fund the Angolan venture, it said last week. The company did not give any further information on its reasons for the termination.

Tango also owns the Oena mine, in South Africa.

Image: A person holding rough diamonds. (De Beers)
Tags: Angola Diamond, Cooperativa Mineira Do Moquita, lucapa, Lulo mine, Moquita project, Oena, Rapaport News, tango, Tango Mining
Similar Articles
Petra Cullinan blue 150Petra Sells 20ct. Blue Diamond for $15M
Nov 17, 2019
Petra Diamonds sold a 20-carat blue diamond from itsCullinan mine...
Alrosa Profit Drops in Third Quarter
Mountain Province Slides to Net Loss
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us