Petra Diamond Ltd’s diamond production during the three month period ending March 31, at just under 1 million carats, marked a more than 25% increase from the same quarter of 2015, according to IDEX Online. Petra Diamonds partly attributes the increase to the completion of the Kimberley Mines acquisition in January.
The company sold 937,526 carats during the quarter, marking a 13% increase compared to the same period a year earlier, notes IDEX Online.
“Petra has delivered another firm production quarter and we are pleased to announce an increase in our FY 2016 production target to 3.6 – 3.65 Mcts, further to the integration of the Kimberley Mines assets. Our expansion programs remain on track and the opening up of undiluted mining areas has continued to yield improved grades at both Finsch and Cullinan. The construction of the new plant at Cullinan is also on track, and we remain highly focused on delivering the capital projects on time and within budget,” explains Petra CEO Johan Dippenaar.
