Johannesburg - Diamond mining firm Trans Hex group yesterday reported that diamond sales in South African operations in the year to March fell by 28.6 percent to R671.4 million from the previous year.
The disposal of the Remhoogte mining right and the discontinuation of operations at Reuning mine accounted for 14.4 percent of the decline.
Read: Trans Hex cuts staff
Sales from the Lower Orange River and shallow water operations decreased by 15.4 percent due to a decline of 23.5 percent in US dollar diamond prices and 16 percent fewer carats sold.
The company said production fell 21.5 percent to 48 435 carats as a result of a 13.4 percent reduction in gravel treated and a 5.4 percent decline in average grade at its Lower Orange River.
The voluntary retrenchment of 22 percent of the workforce in February as well as shift changes impacted the decline of volumes treated. Trans Hex reported a loss for the year of R100.8 million.
Shares were unchanged on the JSE yesterday at R3.70.
BUSINESS REPORT