Petra’s revenue has slipped 9% year-on-year to $104.3 million in the quarter ended September 30, while its sales fell 10% year-on-year to 520,011 carats, IDEX Online reports.
The UK-based miner, which operates mines in South Africa and Tanzania, said it was expecting “some short-term volatility driven largely by the ongoing lockdowns in China.” It added that its second sales tender for FY 2023 has been extended due to “unusual market conditions”.
Richard Duffy, Petra’s CEO, said: “We maintain our production guidance for the year, although expect this will be towards the lower end of the range for Cullinan Mine and Finsch.” Petra’s production guidance remains, therefore, between 3.3 million to 3.6 million carats.
