Trans Hex H1 Rough Diamond Sales -24%

South African diamond miner Trans Hex reported a 24 percent drop in rough diamond sales in the first half of the fiscal year, decreasing to $42.6 million. Production declined 11 percent to 43,670 carats.

The JSE-listed diamond producer posted a widening loss, reaching $5.51 million after it posted a $0.266 million loss a year ago.

“This has been a challenging period and one where our revenue has been severely impacted by the global credit crisis,” Trans Hex CEO Llewellyn Delport said.

The decreased production was a result of lower grades, Delport added.

In its outlook, the company stated that rough and polished diamond sales were likely to face a “difficult” period until confidence in the market returned.