S African produced diamonds earn Trans Hex R350m
JOHANNESBURG (miningweekly.com) – Diamond miner Trans Hex’s May, July and September tender sales of diamonds produced in South Africa raised R350-million, with 22 033 ct sold at an average $1 497/ct.
Twenty-two single stones were sold for more than $10 000/ct. This had included one exceptional pink stone of 3.2 ct from the Baken mine, which sold for $54 750/ct.
Further, a 132 ct stone, also recovered at the Baken mine, realised $1.28-million.
Trans Hex noted that the average prices achieved during these tenders had been 21% higher than that achieved in the financial year ended March 31. This was mainly owing to the sale of 1 734 high-quality carats from the mining right held by Pioneer Minerals.
Meanwhile, Trans Hex reported that, in the five months ended August 31, 32 545 ct of diamonds produced at the Somiluana mine, in Angola, in which it holds a 33% stake, had been sold for $17.5-million.
The diamonds were sold at an average $538/ct.
“These sales reflect continued positive momentum in the rough diamond market and strong demand for Trans Hex's production,” the diamond miner stated.
It pointed out that the next tender of South African produced diamonds would be held in October, while Somiluana conducted monthly sales.
Meanwhile, the company said its South African operations had produced 23 872 ct in the five months ended August 31, while the Somiluana mine had produced 32 841 ct over the same period.
Trans Hex would publish its results for the six months to September on November 3.
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