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Trans Hex, DBCM continue Namaqualand Mines talks

16th October 2013

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – JSE-listed diamond company Trans Hex announced on Wednesday that it and De Beers Consolidated Mines (DBCM) have agreed to extend their engagement regarding the acquisition of Namaqualand Mines.

Trans Hex, through its 50%-owned subsidiary Emerald Panther Investments, had, in 2011, offered to buy the mining operations for R166-million.

However, last week, the company announced that the failure of DBCM and the South African government to reach agreement regarding the State’s 20% ownership of the operations had continually delayed the closure of the deal.

At the time, Trans Hex indicated that it was continuing talks with DBCM.

The company on Wednesday said it and DBCM had extended their engagement until October 30.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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