Petra Diamonds sold fewer carats but achieved higher prices earlier this month at its fifth tender of FY 2024, boosted by the sale of an $8.2m blue diamond. The UK-based miner achieved an average $136 per carat on sales of 362,000 carats for $49m. Like-for-like figures for its fourth tender, in February, were $112 per […]

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Petra Diamonds said its fourth tender cycle of FY 2024 demonstrated robust growth in the market, selling 428,860 carats for $47.8 million, marking a 4.0% increase in like-for-like prices compared to Tender 3 FY 2024, which concluded in December 2023. Excluding a remarkable 14.76-carat blue gemstone recovered from the Cullinan Mine, which will be sold […]

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Petra Diamonds today said it had postponed its June tender of 380,000 carats, in a further indication of a midstream slowdown. The UK-based miner reported a sharp drop in sales at its May tender – down 42 per cent on its March sale – and withdrew almost 76,000 predominantly high-value carats because of weak demand. […]

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Petra reported sharp drops in both revenue and prices at its May tender, and said it held back parcels of over 75,000 carats because of weak demand. The UK-based miner is currently operating only two of its four mines. The Williamson deposit, in Tanzania, remains out of action after the breach of a tailings dam […]

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Petra Diamonds recovered a 39.34-carat Type IIb blue diamond of exceptional quality in terms of both its colour and clarity at the celebrated Cullinan mine in South Africa on 1st April. The company plans to sell the diamond via a special tender. Petra’s strategy is to focus on value rather than volume production by optimising […]

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Petra Diamonds Ltd, releasing its figures for the six-month period ended December 31, 2019, said that revenue was down 6% while adjusted EBITDA fell 11% under the impact of a decline in rough diamond prices. It added that this was in addition to a slower start to the calendar year, particularly at Cullinan and the […]

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Petra Diamonds Limited announces the Trading Update for the period from 1 July 2019 to 18 October 2019, covering production and sales from 1 July 2019 to 30 September 2019 that is Q1 FY 2020 & that summary says Q1 production up 1% to 1,082,764 carats over Q1 FY 2019 of 1,068,140 carats and on […]

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Announcing its preliminary (unaudited) results for the year ended June 30, 2019 (FY 2019), Petra Diamonds Limited reported that its revenue of US$ 463.6 million, had decreased by 6% as compared to a revenue of US$ 495.3 million earned in FY 2018; adding that “diamond prices realised by Petra (were) down ca. 5% in line […]

The post Petra’s Revenue Decreases By 6% Y-o-Y to Reach US$463.6 Mn; Net Loss Widens appeared first on The Jewelry Magazine.

Petra Diamonds commented on the release of its share price performance for the financial year of 2019, saying it delivered “solid set of operational results for 2019,” with improved safety, a production of 3.87 million carats – in line with guidance – and lower capital expenditure of $81.7 million, down from US$129.6 million in 2018 […]

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