Tango Mining Ltd has partnered with CC Mining Ltd (CCML), a wholly-owned subsidiary of CC Energy Ltd of the Consolidated Contractors Company, to carry out a diamond mining project in Angola, the Canadian company said in a statement. released on Wednesday in Vancouver.
Tango Mining Ltd and CCML signed a document pledging US$1.3 million to develop the Txapemba Project, which covers an area of 84 square kilometres in the municipality of Cambulo, in Angola’s Lunda Norte province.
On 11 September 2017, the Canadian company signed a three-year contract for diamond mining and trading services with Txapemba Canguba RL, an Angolan cooperative for semi-industrial diamond exploration.
Under this contract, Tango Mining Ltd, which is an exclusive operator, will be responsible for the exploration model of alluvial deposits and the acquisition of equipment, receiving 60% of revenues from the sale of diamonds, after deducting operating costs.
Tango Mining Ltd took over this project on 23 October 2017 and since then has already sourced the necessary earthmoving equipment, repaired and maintained the access roads to the concession and dug trenches in two areas in order to find diamond gravel. (macauhub)