Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Trans Hex returns to profitability

09 november 2016
Trans Hex, which has diamond operations in South Africa and Angola recorded a group net profit of R32,5 million ($2,405 million) in the six months to September 30, 2016 compared with a loss of R32,5 million, a year earlier.
It said sales revenue from its South African operations increased by 2,5 percent from R268,7 million ($19,9 million) to R275,3 million ($20,4 million).
The average dollar diamond price increased by 10,4 percent, mainly as a result of firmer global prices and increased demand.
Sales, it said, were positively affected by a 15,4 percent weakening of the Rand against the US dollar, partly offset by a 19,6 percent decline in carats sold.
South African production, however, decreased by 20,6 percent to 18 997 carats compared with 23 940 carats a year earlier, in line with a new operating model which was introduced at the Lower Orange River operations in February 2016 in order to extend the viable life-of-mine of these operations for as long as possible.
Trans Hex said production for the 2017 financial year was expected to be in the order of 80 000 carats, compared to 2016 actual production of 24 930 carats.
In Angola, production at Somiluana Mine, in which Trans Hex holds a 33 percent stake, increased to 91 033 carats from 67 981 carats last year.
The company’s sales in Angola reached $32,5 million at an average price of $477 per carat compared with $20,2 million at an average price of $300 per carat in 2015.
South Africa’s Competition Commission recently approved unconditionally a cash offer made by Cream Magenta and Metcap to acquire the entire ordinary share capital of Trans Hex, other than the ordinary shares already held by the offerors.
The consortium had offered the struggling diamond company a consideration of R3.94 a share, amounting to R117-million.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished