Tango Mining renews three Exxaro coal contracts; updates on operations

The coal contracts call for a minimum target of 6.24mln tonnes to be processed per year.
Tango Mining renews three Exxaro coal contracts; updates on operations
There has been a significant turn-around in global coal prices this year

Tango Mining Ltd (CVE:TGV) updated on operations in South Africa and Angola, saying three coal mine operations and maintenance contracts have been renewed for three years to June 2020.

These are in respect of three Exxaro mines -Dorstfonein East, West and Forzando.

The contracts call for a minimum target of 6.24mln tonnes to be processed per year.

Between January 1 this year and November 30, total throughput for the mines was 6.43mln tonnes, which was within 1% of the year-to-date budget of 6.49mln tonnes.

There has been a significant turn-around in global coal prices and there is a positive outlook for 2018. Thus, Tango has a continued development plan in place to grow the business, it noted.

At the Oena diamond mine in South Africa, a total of 29.02 carats has been recovered since November 16, including one diamond of 12.7 carats.

Due to Christmas, processing of ROM (run of mine), tailings and bantam material was discontinued on December 13 but will recommence on January 18 next year.

Contractor Bluedust's due diligence has been extended to February 28 next year, to allow time for additional equipment to be moved to the site and the processing flow sheet to be modified to consider operations at Oena over the past month.

Meanwhile, Tango took operational control of Txapemba, an 84 sq km concession - in Angola on October 23 this year

It is continuing its geological assessment of the property, which will result in the development of a work plan and plans to begin alluvial diamond production testing in January next year.

View full TGV profile View Profile

Tango Mining Timeline

Related Articles

Checking a Redmoor core sample
May 11 2018
The Redmoor project's inferred resource has 45,000 tonnes of contained tin equivalent.
1522177427_shutterstock_192060521.jpg
March 27 2018
In January this year, shares in the materials group began trading on Nasdaq First North Stockholm
a person sampling at the Berenguela Central prospect
April 04 2018
The company's shares are trading about 8% higher intra-day, at 1.4 cents.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © 2ndrangers.us, 2018. 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.