Another blow to Christo Wiese as Trans Hex liquidates diamond mine

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...

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