121.26 carat diamond

PETRA DIAMONDS OUTPUT JUMPS 16% IN FY 2016, REVENUE REMAINS STATIC

Petra Diamonds has reported a 16% increase in diamond output to 3.7 million carats in the year ended 30 June 2016, compared with 3.18 million carats produced a year earlier, according to Rough & Polished. Production exceeded the guidance set between 3.6 million carats and 3.65 million carats.

 

The group’s revenue for the period under consideration grew 1% to $430.9 million. compared to $425.0 million a year earlier, mainly due to an increase in volumes sold from the Kimberley Ekapa Mining operation in South Africa.

 

Petra said it was expecting to produce between 4.6 million carats and 4.8 million carats in the fiscal year 2017 – an increase of between 25% and 30% on the fiscal year 2016.

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