Trans Hex Completes Acquisition Of Namaqualand From De Beers
November 02, 14Trans Hex previously announced that Emerald Panther Investments 78 (Pty) Limited (EPI), in which it has a 40-percent stake, would acquire assets and liabilities relating to Namaqualand Mines from DBCM. Trans Hex said that all outstanding conditions to enable the acquisition have been fulfilled.
“The acquisition by EPI of NM will increase the life of mine of Trans Hex’s South African operations to 14 years,” said Llewellyn Delport, CEO of Trans Hex. “In addition, commencement of operations at Namaqualand will provide much needed employment in the region.”
DBCM announced in 2011 its plan to sell the Namaqualand operations to Trans Hex for 225 million rand ($21.2 million).