Trans Hex, the South African marine diamond company, is considering pulling of Namibia, the company said in its latest financial results. Trans Hex said its Namibian operations, comprising the group's two deep-water mining vessels, continue to make losses and various options for exiting this business are being actively considered. Trans Hex it continues to make good progress in implementing operational improvements at both its production and exploration facilities and has now built a firm platform from which to turn the business around.

Second half production for 2007 from the South African operations is expected to be in line with that of the first half. The Bloeddrift plant was successfully re- commissioned during November 2007 and production has been increased from pre-shutdown levels.
Operating costs have been driven down and further reductions are expected from April 2008.
“Demand and pricing for higher quality and large sized rough diamonds, with which, Trans Hex's production is synonymous, continues to be strong. 23154 carats were sold at the final sale of the year and achieved a sale price of US$29,3 million.
“Prices achieved in most categories for this sale were approximately 14% above those achieved at the previous sale during November 2007, partially as a result of the exceptional quality of the stones,” Trans Hex said.
The company said production from its Angolan operations continues to be affected by difficult operating conditions, but its management has made considerable progress in implementing long-term solutions to resolving operational difficulties.
Trans Hex's results for the financial year ending 31 March 2008 are expected to be published on 28 May.