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The latest update is out from Newfield Resources Ltd. ( (AU:NWF) ).
Newfield Resources Ltd. has entered into an agreement with ACA Resources Pty Ltd to manage the restart of operations at the Tongo Mine in Sierra Leone. This partnership aims to position the Tongo deposit as a sustainable long-term producer of high-quality diamonds. ACA will oversee mining operations and appoint two executive board members, while SDL will appoint contractors in collaboration with ACA. The arrangement, set to conclude by June 2025, is seen as an opportunity to capitalize on the potential of the Tongo deposit amidst strong interest from contractors and suppliers.
More about Newfield Resources Ltd.
Newfield Resources Ltd. is a company focused on mining operations, specifically holding a license for the Tongo diamond mine in Sierra Leone through its subsidiary Sierra Diamonds Limited.
YTD Price Performance: -1.11%
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: A$83.72M
Learn more about NWF stock on TipRanks’ Stock Analysis page.