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South African-produced diamonds earn Trans Hex R350m

19th September 2014

By: Creamer Media Reporter

  

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Diamond miner Trans Hex’s May, July and September tender sales of diamonds produced in South Africa raised R350-million, with 22 033 ct sold at an average $1 497/ct.

Twenty-two single stones were sold for more than $10 000/ct. This included one exceptional pink stone of 3.2 ct from the Baken mine, which sold for $54 750/ct.

Further, a 132 ct stone, also recovered at the Baken mine, realised $1.28-million.

Trans Hex noted that the average prices achieved during these tenders had been 21% higher than prices achieved in the financial year ended March 31. This was mainly due to the sale of 1 734 high-quality carats from the mining right held by Pioneer Minerals.

Meanwhile, Trans Hex reported that, in the five months ended August 31, 32 545 ct of diamonds produced at the Somiluana mine, in Angola, in which it holds a 33% stake, had been sold for $17.5-million.

The diamonds were sold at an average $538/ct.

“These sales reflect continued positive momentum in the rough diamond market and strong demand for Trans Hex’s production.”

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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