News release
Two 48-carat gems, from Trans Hex's Orange River mines, together grossed more
than US$900 000 (R7-million) - with one diamond exceeding
US$10 500 per carat (R82 000) - at a tender held in Johannesburg recently.
The two rough diamonds were among 62 stones, weighing more than ten carats
each, which yielded over US$2.885-million (R22,5-million).
"Diamond prices have remained strong for our entire production assortment. And
this is in the face of a slowdown in the United States economy, a market
responsible for 50% of diamond jewellery sales," said Trans Hex managing
director: operations, Peter Danchin.
Alluvial diamonds - those of the type mined by Trans Hex along the banks of the
Orange River - are particularly desirable for jewellery purposes. This is
because of the natural scouring and sorting process that takes place during
transportation from the inland kimberlite pipes where they originate; those
diamonds with flaws and cracks are soon destroyed on the arduous and lengthy
journey to the sea.
Trans Hex achieves some of the highest diamond prices in the world because of
its particular assortment of stones - 65% of the total tender value was held in
stones greater than three-carats. This places the Company as South Africa's
second largest diamond producer by value.
"Trans Hex has always marketed its production through a tender system open to
all buyers registered with the South African Diamond Board. This guarantees
full market value for the Company's production while at the same time providing
South Africa's local cutting industry with access to genuine high-quality
run-of-mine production," concludes Danchin.
Ends.
For further information : Peter Danchin
Trans Hex Group
Tel: (021) 939-1105
Issued by : Cullum Johnston
BHA Communications
Tel (021) 683-2685 / 083 212-2455
Date : 13 February 2001
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