South Africa’s Trans Hex to mine 100,000 carats of diamonds in Fucauma, Angola, in 2006

2 June 2006

Johannesburg, 02 June – South African mining company, Trans Hex is set to mine 100,000 carats of diamonds from its mine at Fucauma, in Angola’s province of Lunda Norte, the president of Trans Hex said.

Llewellyn Delport, speaking at the presentation of the company’s results, said that the production capacity reached would allow the Fucauma and Luarica mines to reach breakeven.

As well as the 98,000 carats mined at Fucauma, Trans Hex would also produce around 13,000 carats per month, at the end of the year, at the Luarica mine, after the current expansion project.

The yearly production of Trans Hex, the largest listed diamond mining company in South Africa, varies between 90,000 carats and 100,000 carats in South Africa.

Recently, Trans Hex agreed a joint venture with Angolan diamond company, Empresa Nacional de Diamantes de Angola (Endiama) and other minority partners, ensuring a 33-percent stake in the Luana concession, also located in Lunda Norte.

Diamond production in Angola surpassed 6 million carats in 2005, making the country the world’s sixth largest producer.

In terms of revenue, Angola is currently the fourth largest diamond producing nation, due to the recognized quality of its diamonds.

This year, production is expected to reach 10 million carats, according to projections from Endiama, and almost double that figure in 2009. (macauhub)