May 23, 2017

Trans Hex Puts Its Northern Cape Project Bloeddrif on Care and Maintenance

Reports out of South Africa indicate that the  Trans Hex Group has placed its 100% owned Bloeddrif mine on care and maintenance. The  Bloeddrif mine  - along with the Goup’s other 100% owned project  the Baken mine --  is situated  on the southern bank of the Orange River in the  Northern Cape.

Though Trans Hex has not yet issued any official press release, the news was confirmed to the Mining Weekly, the publication reported.

The report came on the heels of the National Union of Mineworkers (NUM) condemning the “sudden closure” of the mine.

It is understood that the project has been in difficulty and unviable  for some time, having reached end-of- mine-life. The Group is quoted as saying that the step has been taken to stem further losses to the Company.

Trans Hex has stated to the media  that employees will continue to receive full pay till statutory  processes are  undertaken.