Magnum Completes Divestment of Namibian Project Interest

Mining Weekly reported that Magnum Mining & Exploration Ltd. (ASX:MGU) has divested its 60-percent interest in the Namibia-based Tantalite Valley project to African Tantalum.

As quoted by the market news:

Under the terms, agreed upon in July last year, African Tantalum acquired its interest in the project for A$806 160, or R8-million. African Tantalum would take up the responsibility to operate and fund the project in consideration for 100% of any revenues generated in the first 30 months after the completion of the project.

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