The Trans Hex Group, which has mining operations in South Africa and Angola, has reported a 35% increase in sales revenue during the 12 month period ended March 31, 2015 with actual figures rising from R695.7 million in the comparative period ended March 31, 2014 to R939.7 million.

While releasing its financial results, the company noted that there was a 9.3% increase in average prices which rose from US$1,238 per carat in 2014 to US$1,353 per carat in 2015 due to an increase in average stone size, as well as a 14.0% increase in total carats sold from 55,083 carats to 62,819 carats in 2015.

While South African production increased by 18.4% to 61,688 carats (2014: 52,081 carats), the average grade at the Lower Orange River Operations increased by 39.3% to 1.29 carats/100 m3 (2014: 0.92 carats/100 m3), though the increase was partly offset by a 16,6% decrease in volumes treated.

In Angola, production at Somiluana Mine, in which Trans Hex holds a 33% stake, amounted to 94,483 carats (2014: 72,041 carats) due to a 16.9% increase in grade and a 12.2% increase in gravel treated. Total sales amounted to US$ 43.9 million at an average price of US$ 458 per carat (2014: sales of US$ 32.4 million at an average price of US$ 478 per carat).

The company also said that its existing SA assets are nearing end of life in their current form but the Somiluana continues to grow and production and profits are expected to rise in 2016.

This year, operations at West Coast Resources are underway and a production treatment plant is scheduled to be completed towards year end. As this project is still in a start-up phase, a loss is expected in 2016.