[miningmx.com] – TRANS Hex, a diamond mining company, passed the interim dividend but said demand for its products remained “healthy” despite slowing trading conditions in China that was affecting world diamond demand.
“Sentiment in the rough market remains depressed, intensified by slowing growth figures in China and unstable stock markets. Weak demand and trading therefore continued, particularly in Asia, as consumer spending decreased significantly,” the company said in interim figures published on Wednesday.
The company reported a loss after tax of R43,8m for the half year ended September 30 (2014: R25,2m profit). The group’s net cash position at the end of the period came in at R347,5m compared to R351,1m in the corresponding period of the previous year.
“Interest in the Trans Hex November sale is however healthy, confirming that demand for the group’s product remains strong,” it said in notes to its interim results.
