Llewellyn Delport, CEO Trans Hex

Opportunities for growth in diamonds - Trans Hex CEO Delport

| Wed, 11 Nov 2009 14:22 [miningmx.com] -- THE weak diamond market has created opportunities for growth, said Llewellyn Delport, CEO of diamond producer Trans Hex.

"The unfortunate condition of the world clearly has shaken out some of the smaller players, has also brought I think some sanity in terms of the pricing of diamond assets, and clearly brings opportunities to those who are in the game and those who have what I would call cash reserves and access to financing," he said on SAfm Market Update.

The rough diamond market is showing signs of recovery, he said.

"For our quality of goods the current demand is strong. We are selling as we produce. Pricing is fair to buoyant," he said.

"However, all industry analysts - and, very important to note, in this industry we as a tenderer of goods, as a price taker - are of the view that December diamond sales in the States hold the key to the future," he said.

"So everybody, including the Indians who are currently the most keen buyers and payers, are looking to the States because it still remains to be the biggest jewellery consumer market," he added.

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