Trans Hex Back in Black, Posts $5.88 million Profit

South African mining firm Trans Hex posted a full-year profit of R41.7 million ($5.88 million). The profit follows a R118.9 million loss the firm suffered in the prior year. Total rough diamond sales, however, fell 12 percent in U.S. dollars to $148.8 million. In rands revenue decreased 5 percent to of R1,035.8 million.

As Trans Hex’ sales fell and mining income decreased by 22 percent, the company has seen the reversal on the bottom line from the rebounded South African Baken mine, which recovered from “extraordinary” rains in the first half of the year.

The miner also halted work on four of its Angola properties, focusing its efforts on the Luarica and Fucuama mines.

The company sold several large stones during the period. A 208 carat diamond, a 115 carat diamond and fifty diamonds larger than 20 carats were sold. Three of the diamonds sold for more than $1 million each. A 15 carat diamond mined at Baken was sold for $43,000 per carat.