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Trans Hex's SA Tenders Achieve $25M

Sep 10, 2014 2:50 AM   By Deena Taylor
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RAPAPORT... Trans Hex reported that tender sales held during May, July and September, consisting of 22,033 carats from its South African mines, realized $24.7 million (ZAR 350 million), or an average of $1,497 per carat.

Twenty-two single stones achieved over $10,000 per carat, including a 3.20-carat, pink diamond that was recovered at the Baken mine and  sold for $54,750 per carat. A 132-carat diamond, also from Baken, realized $1.28 million.

The company noted that average prices grew by 21 percent compared to the average prices achieved during the financial year that ended March 31, 2014, mainly as a result of the sale of 1,734 high-quality carats from the mining rights held by Pioneer Minerals (Pty) Ltd.

Trans Hex also sold 32,545 carats from the Somiluana Mine in Angola, for a total of $17.5 million or $538 per carat during the five months that ended on August 31.  Trans Hex owns a 33 percent stake in the mine. Additionally, the company reported that it produced 23,872 carats at its South African operations, while production at Somiluana for the same period reached 32,841 carats.

Trans Hex's next sale of South African production will take place in October 2014. The company conducts monthly sales at Somiluana.
Tags: Baken mine, Deena Taylor, diamond, diamonds, Somiluana, Trans Hex
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