[miningmx.com] — Diamond mining junior Tawana Resources on Wednesday said it has agreed to sell its Kareevlei Diamond Project to Rolatseng Mining for R25m.
“The Kareevlei Project is not considered a core asset going forward,” the company said in a statement to the JSE.
“The proposed sale represents another step in the rationalisation of the company’s diamond projects as the board seeks to strengthen its financial position,” it added.
The funds derived from the sale will be earmarked for initiatives being considered by Tawana, including but not restricted to gold projects in West Africa.
Tawana said it maintains its interests in iron ore and manganese projects in
South Africa, held through its shareholding in Rakana.
