Canadian firm secures cash to buy BK11 Mine

Canadian firm, Tango Mining on Monday announced that it had secured a loan deal that would facilitate the acquisition of mothballed BK11 Diamond Mine near Orapa.

In a statement, the company said it would borrow $30 million (P345 million) to finalise the purchase from Firestone Diamonds and restart operations at BK11.

The US dollar loan is being sought from Vanderbilt Commercial Lending Inc. and will be a five-year facility, which includes an 18-month prepaid interest reserve fund.

Editor's Comment
Women unite for progress

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