[miningmx.com] – TRANS Hex said the completion of the long-standing acquisition of the Namaqualand diamond mine from De Beers had come at a good time because it allowed the group to continue plying its trade in South Africa.
“From where we are sitting, the timing for this transaction is clearly very good because it allows Trans Hex to continue mining in that region [Lower Orange River] and with it will come more opportunities either here or elsewhere,” Trans Hex CEO Llewellyn Delport told BDLive.
“If the transaction was to have come later, we were running the risk of Trans Hex running out in the Lower Orange and not having ground in South Africa to ply our trade on,” he said.
The transaction value is largely associated with Trans Hex assuming the rehabilitation liability of R166m, said BDLive.
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