Year-to date diamond prices soften for Trans Hex
JOHANNESBURG (miningweekly.com) – Year-to-date production at diamond producer Trans Hex’s South African operations reached 52 667 ct by the end of January, with 32 450 ct produced in the six months ended September 31 and 20 217 ct produced in the four-month period between October and the end of January.
The group’s Somiluana mine, in Angola, produced 78 448 ct in the year-to-date, of which 44 400 ct were produced in the six months to September and 34 048 ct between October and January.
Trans Hex added in a sales and production update on Monday that tender sales of South African diamonds amounted to R358.8-million between October and February, with stones achieving an average price of $1 161/ct.
“Average prices decreased by 25.4% compared with the average prices achieved from sales during the first six months of the financial year, owing to fewer large stones being sold and a slight decrease in global prices,” it elaborated.
Eleven single stones were sold for more than $10 000/ct, including an exceptional pink stone of 2.7 ct from the Baken mine, on the Orange River, which sold for $60 722/ct.
A 42.6 ct stone, also from the Baken mine, realised $988 888.
The Somiluana operation realised sales of $15.1-million for tenders held between October and January, achieving an average of $404/ct.
“Average prices in Angola decreased by 21.2% compared with the average prices achieved during the prior-year period as a result of variation in the size and quality of the stones, as well as a slight decrease in global prices,” said the group.
Despite the softening of global prices, Trans Hex believed that diamond fundamentals remained solid.
The next sale of the group’s South African production would be held later this month.
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