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Tycoon Sees Opportunity in Consolidating Mines
Aug 23, 2016 11:31 AM
By Rapaport News
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RAPAPORT... Christo Wiese, the South African billionaire who bought a
stake in miner Trans Hex Group, sees the prospects of consolidating diamond
operations in the region, Bloomberg reported.
Wiese, the country’s richest man, formed a consortium that made
a cash offer for the Cape Town-headquartered diamond producer earlier this
month.
The retail tycoon, worth $7.6 billion according to the
Bloomberg Billionaires index, has always been “fascinated’’ by diamonds and saw
good value in Trans Hex, he said in an interview with the news wire.
“There are opportunities for consolidating diamond operations in southern
Africa,’’ he said. “Obviously we will look at growing the business as much as
we can.’’
An 18-percent slump in rough prices last year has created openings
for investors such as Wiese, the report said. Diamonds are “wonderful things,
things of beauty and of everlasting value,’’ Bloomberg cited him as saying.
“It’s just a very exciting business.”
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Tags:
Cape Town, Christo Wiese, Rapaport News, South Africa, southern Africa, Trans Hex, Trans Hex Group
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