Trans Hex Group Ltd, in its recently released production and sales update said that  its  South African operations had yielded 20,839 carats for the five months ended 31 August 2015.

The production of West Coast Resources (in which Trans Hex has a 40% stake) for the same period, was 4,490 carats. “The company's initial phase of construction, exploration and sampling is well underway and full production is expected early in 2016,” Trans Hex said.

Meanwhile, the production at Somiluana Mine in Angola (in which Trans Hex holds a 33% stake) totalled 63,834 carats for the same five months.

“The Group’s May, June and September 2015 tender sales of production from its wholly owned South African operations amounted to R236,1 million (20,570 carats at an average price of US$ 896 per carat and exchange rate of R12,81/US$),” Trans Hex declared. “Average prices for production from current operations (excluding the recently closed Reuning Mine and the disposed of Remhoogte mining right) have decreased by 21% in US$ terms compared to the financial year ended 31 March 2015, in line with a global slump in rough diamond prices. In Rand terms, prices have decreased by 9%.”

Seven single stones from the Lower Orange River Operations were sold for more than US$10,000 per carat. 

West Coast Resources notched sales worth R 6.9 million, with production from the Kleinzee tailings dumps fetching an average price of $170 per carat, Trans Hex said.  The Somiluana Mine realised sales of US$ 17.9 million for the five months ended 31 August 2015 (60,542 carats at an average price of US$ 296 per carat).

“Average prices decreased by 35% compared to the financial year ended 31 March 2015,” Trans Hex explained. “Challenging market conditions and low demand from China and India have slowed trading considerably, in a market which is already feeling the pressure of a global downturn.”