West Coast Resources is a diamond-mining company with operations in the Namaqualand region of the Northern Cape. The Company is owned by Trans Hex Group Ltd (40,0%), RECM and Calibre Ltd (27,2%), the State (Department of Public Enterprises) (20,0%), Dinoka Investment Holdings (Pty) Ltd (8,8%) and the Namaqualand Diamond Fund Trust (4,0%).
West Coast Resources has contracted Trans Hex to manage the Company’s operations and to market the diamonds it produces.
The Michells Bay production plant was completed towards the end of 2015 and mining activities commenced early in 2016.
Production for the Company’s first financial year, which runs from 1 April to 31 March, totalled 24 930 carats at an average grade of 53,34 carats/100 m3, an average stone size of 0,30 carats per stone and an average price of US$208 per carat.
As at the end of October 2016, the Company had created 235 permanent jobs and 21 part-time employees were employed as a result of the Company’s operations. West Coast Resources plans to create approximately 686 jobs, directly and indirectly, by 2020.