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

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16 august 2021

Trans Hex returns to profitability

05 june 2012

Trans Hex, which mines diamonds in Angola and South Africa, has recorded a net profit of R208.3-million ($23.7 million) for the year ended March 2012 up from a R45.1-million ($5.2 million) loss last year.
It said in a statement that the profit after tax of its Angola-based operations reached R80.9-million ($9.4 million), compared with a loss of R11.4-million ($1.3 million) in 2011.
It said total sales amounted to $21,7 million at an average price of $446 per carat compared to 2011’s $19,3 million.
Profit from discontinued operations in Angola (Luarica and Fucauma) amounted to R127,4 million ($14.8 million) from last year’s loss of R33,7 million ($4 million), due to the prescription of unclaimed debts amounting to R38,2 million ($4.4 million), a change in estimate of provisions of R20,9 million ($2.4 million) and a reversal of impairment of R84,6 million ($9.8 million).
Trans Hex’s South African operations recorded a profit before tax of R114.6-million ($13.3 million), compared with R14.6-million ($1.7 million) in the year ended March 2011.
It said production at its 33 percent Somiluana operation in Angola, rose to 45 869 ct, from 27 622 ct in 2011.
South African production during the reporting period amounted to 84 409 ct, up from 69 508 ct in the year before, it said.
Trans Hex said South African production for the 2013 financial year was expected to be 80 000 carats, while Somiluana was set to produce 42,000 carats.
It also said that it was continuing with the appropriate course of action to exit from the discontinued Luarica and Fucaúma projects in Angola.

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