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Trans Hex's South Africa Tender Garners $10M
Apr 17, 2014 1:05 AM
By Deena Taylor
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RAPAPORT... Trans Hex reported that the March tender of its South African diamond production garnered $10 million (ZAR 106.5 million) or an average $1,684 per carat from the sale of 5,886 carats of diamonds. Nine diamonds sold for over $10,000 per carat, including a 22.50-carat diamond from the Baken mine, which sold for over $49,000 per carat.
Trans Hex's South African operations produced 52,081 carats for the year that ended on March 31, with 30,232 carats being produced just between October 2013 and March. The group will report its financial results in June.
Trans Hex's February sale of production from its Somiluana mine in Angola generated $2.3 million for 5,120 carats it received from its 33 percent stake in the mine for an average price of $451 per carat.
Production at Somiluana amounted to 72,041 carats in 2013. A total of 35,779 carats were produced in the period from April to September 2013 and 36,262 carats were produced in the second half of the fiscal year.
Trans Hex noted that its recent sales reflected continued positive price trends in the rough diamond market due to strong demand. The next sale of South African production will be held in May, however, the Somiluana mine holds monthly sales.
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Tags:
Baken mine, Deena Taylor, diamonds, Somuliana, Trans Hex
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