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Trans Hex diamond sales reflect ‘healthy’ trading market

Trans Hex diamond sales reflect ‘healthy’ trading market

Photo by Duane Daws

17th February 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – The strong sales of diamonds at the start of 2014 reflected “healthy trading activity” in the rough diamond market and strong demand for production at the start of 2014, JSE-listed Trans Hex said on Monday.

The diamond producer reported that the February 2014 tender sale of the company’s South African output reached R107.6-million – equating to 7 124 ct at an average price of $1 379/ct at an exchange rate of R10.95 a dollar.

“Five single stones were sold for more than $10 000/ct, including one pink stone from Baken mine [in the Northern Cape], which sold for over $65 000/ct,” Trans Hex pointed out.

The group’s 33%-owned Somiluana mine, in Angola, achieved sales of $7.2-million during December and January, with 14 557 ct sold at an average price of $495/ct.

Meanwhile, year-to-date production at Trans Hex’s South Africa-based operations reached 41 774 ct, with 21 849 ct delivered during the first half of the year and 19 925 ct from October 2013 to January 2014.

Year-to-date production from the Somiluana operation amounted to 63 638 ct by the end of January – 27 859 ct of which were produced during the four months to January.

The group planned to publish its financial results for the year to March in June.

Edited by Creamer Media Reporter

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