Diamond miner Trans Hex has put its unprofitable unit West Coast Resources (WCR) into liquidation, citing a fall of nearly a third in diamond prices and handing its biggest shareholder, Christo Wiese, another setback.

The second-biggest miner of the gemstones to De Beers on the JSE in the 1980s and early 1990s, Trans Hex is struggling with weak diamond prices on worries about oversupply and the rising popularity of laboratory-grown diamonds...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now