Trans Hex to Exit Two Angolan Diamond Projects as Talks Over Funding Stall

Bloomberg reports Trans Hex Group Ltd. (JNB:TSX,PINK:TRHXY) said it plans to exit the Fucauma and Luarica projects in Angola.

The market news is quoted as saying,

“Exit discussions are underway” between the partners about the projects the Cape Town-based company said in an e- mailed response to questions today. The two mines halted production in May 2009 when Trans Hex and its partner, Endiama EP, mothballed the operations in response to the global financial crisis, which led to a slump in diamond demand.

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