Mining group Trans Hex (TSX) said on Tuesday its February 2012 tender sale of South African production had amounted to R145.6 million (19,562 carats at an average price of US$952 per carat and exchange rate of R7.82/US$).

Eight single stones were sold for an average price of more than US$10,000 per carat, including three stones from Baken Mine which sold for over US$20,000 per carat.

Somiluana Mine in Angola, in which Trans Hex holds a 33% stake, realised a total of US$3.53 million for its December and January sales (8 119 carats at an average price of US$435 per carat).

“These sales reflect increased demand for rough diamond production at the start of 2012 and, having stabilised in the latter part of 2011, overall prices have now shown modest percentage increases,” the group said.

Year-to-date production at the group's South African operations amounted to 73,744 carats at end-January. During the first six months of the financial year 33,199 carats were produced, while 40 545 carats were produced in the four-month period from October 2011 to January 2012. The production target for the full year is 82 000 carats.

Year-to-date production at Somiluana amounted to 36, 911 carats at end-January. During the first six months of the financial year 20 473 carats were produced, while 16,438 carats were produced in the four-month period from October 2011 to January 2012. The production target for the full year is 42,000 carats.

The next sale of South African production will be held in March 2012. Somiluana conducts monthly sales. - I-Net Bridge