Losses Grow at South Africa’s Trans Hex

Trans Hex Group’s losses widened 2% to $13.9 million in the past fiscal year, reflecting the termination of its Lower Orange River mining operations.

The company halted production at the unprofitable LOR division in South Africa in October, and agreed in April to sell the assets to a firm called Lower Orange River Diamonds.

Revenue from LOR fell 54% to $15.3 million due to the mines Baken and Bloeddrif being on care and maintenance for a large part of the financial year ending March 31.

 Losses at the discontinued operations grew 81% to $15.9 million from $8.7 million last year.

Sales at Trans Hex’s continuing operations West Coast Resources in South Africa and Somiluana in Angola more than doubled to $14.3 million .

The miner recorded a $2 million profit at those assets, compared with a loss of $4.9 million a year ago.

Source: DCLA

Losses Grow at South Africa’s Trans Hex

Trans Hex Group’s losses widened 2% to $13.9 million in the past fiscal year, reflecting the termination of its Lower Orange River mining operations.

The company halted production at the unprofitable LOR division in South Africa in October, and agreed in April to sell the assets to a firm called Lower Orange River Diamonds.

Revenue from LOR fell 54% to $15.3 million due to the mines Baken and Bloeddrif being on care and maintenance for a large part of the financial year ending March 31.

 Losses at the discontinued operations grew 81% to $15.9 million from $8.7 million last year.

Sales at Trans Hex’s continuing operations West Coast Resources in South Africa and Somiluana in Angola more than doubled to $14.3 million .

The miner recorded a $2 million profit at those assets, compared with a loss of $4.9 million a year ago.

Source: DCLA

The De Beers Retail division removes diamond from the name

De Beers public brand identity, has been renamed ”De Beers Jewellers” to reflect the companys retail chain.

De Beers acquired fully the formerly known De Beers Diamond Jewellers in 2017. Which was a partnership with LVMH Moët Hennessy Louis Vuitton.

The London headquartered retailer announced Stephen Lussier, as De Beers executive vice president for marketing in charge of the operation.

Source:DCLA

The De Beers Retail division removes diamond from the name

De Beers public brand identity, has been renamed ”De Beers Jewellers” to reflect the companys retail chain.

De Beers acquired fully the formerly known De Beers Diamond Jewellers in 2017. Which was a partnership with LVMH Moët Hennessy Louis Vuitton.

The London headquartered retailer announced Stephen Lussier, as De Beers executive vice president for marketing in charge of the operation.

Source:DCLA

Lucara Sells Two Huge Diamonds at $32M Tender

Lucara Diamonds have sold two exceptional large rough diamonds at the $32.5 million tender.

The tender included a 327 carat rough diamond that sold for over $10 million USD.

Lucara said the 10 stones ranging from 40.4 carats to a 472.37 carat rough stone a combined 1,453.06 carats, sold for an average price of $22,356 per carat.

The top seller was the 327.48 carat white diamond, which earned $30,900 per carat total $10.1 million.

Another exceptional size 472.37 carat light brown stone also sold but the miner has not publish its price.

Source: DCLA

Lucara Sells Two Huge Diamonds at $32M Tender

Lucara Diamonds have sold two exceptional large rough diamonds at the $32.5 million tender.

The tender included a 327 carat rough diamond that sold for over $10 million USD.

Lucara said the 10 stones ranging from 40.4 carats to a 472.37 carat rough stone a combined 1,453.06 carats, sold for an average price of $22,356 per carat.

The top seller was the 327.48 carat white diamond, which earned $30,900 per carat total $10.1 million.

Another exceptional size 472.37 carat light brown stone also sold but the miner has not publish its price.

Source: DCLA

Lucapa gets another $2 million from Lulo diamonds sale

Lucapa Diamonds said it had made USD $2 million after selling rough diamonds recovered at its prolific Lulo mine in Angola.

Sale has taken gross sales proceeds from the Angola based mine so far this year to $15.9 million.

Empresa Nacional de Diamantes and Rosas & Petalas, Lucapa all partners in th emine have sold 1,782 carats at an average price of $1,150 per carat.

The mine is  located 150km from Alrosa’s Catoca mine the world’s fourth largest diamond mine, hosts type 2a diamonds which account for less than 1% of global supply.

Angola is now the world’s forth largest diamond producer by value and sixth by volume.

Source:DCLA