Petra Diamonds has announced production and sales results for the six months ended 31 December 2016 (H1), showing “significant increases in production and revenue”, according to a press release. Petra remains on track to deliver full year production of 4.4 – 4.6 million carats.
Petra’s production was up 24% to 2,015,087 carats “due to increased contribution from undiluted run-of-mine (ROM) ore leading to improved ROM grades, and additional tailings production from Kimberley Ekapa Mining”. Revenue increased 48% to $228.5 million due to increased sales volumes.
Diamonds sold rose 47% to 1,910,113 carats. Rough diamond prices were flat during the period.
CEO Johan Dippenaar commented that “due to the increased contribution in H1 FY 2017 from undiluted ore, we have delivered strong operational results, reporting significant increases in production and revenue”.