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Trans Hex's South Africa Production Drops in 1H
Dec 12, 2013 8:25 AM
By Deena Taylor
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RAPAPORT... Trans Hex's diamond production at its South African operations fell 39 percent year on year to 21,849 carats during the first half of its fiscal year that ended on September 30. The company produced an additional 12,586 carats in October and November following efforts to increase the volume of gravel treated.
Diamond production at the Somiluana mine in Angola, in which Trans Hex holds a 33 percent stake, jumped 58 percent to 35,779 carats during the first half. The mine produced an additional 14,184 carats during October and November.
Trans Hex didn't provide sales figures for the first half; however, diamond revenue from April through December 5 amounted to $41.9 million (ZAR 434.3 million) from the sale of 39,701 carats. Trans Hex's October and December tenders of 12,579 carats from its South African operations amounted to $1.6 million (ZAR 161.2 million) or an average $1,243 per carat. Tenders held in October and November for the sale of 13,073 carats from Somiluana realized $5.9 million or an average of $454 per carat.
The company intends to hold two more tenders of South African production before the financial year ends on March 31, 2014.
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Tags:
Deena Taylor, diamond, diamonds, Trans Hex
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