Tango Takes On Two New Mines

RAPAPORT... Tango Mining has expanded its portfolio with the acquisitionof a Liberian mine, as well as signing an agreement to finance an alluvialproject in Angola. The miner has bought an 80% share in the Mano River Projectin Liberia from West Mining. The purchase gives Tango exploration rights on a104.3-square-kilometer area of the asset. Additionally, the Canada-based miner has signed a serviceagreement with Cooperativa Mineira Do Moquita for the mining and marketing ofdiamonds from an alluvial project in Angola, just north of Lucapa's Lulo mine. Underthe 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 projectgenerates. Tango also owns the Oena alluvial diamond mine in SouthAfrica. Image: Alluvial diamonds by a river