Petra Diamonds Rakes in $140 Million in Latest Diamond Tender
UK-based Petra Diamonds has sold $140.6 million worth of rough diamonds at its fourth tender of the year, a 10% increase over the third tender, IDEX Online reports.
Petra has also reported that like-for-like rough diamond prices rose 46.5% in the six months to December 2021 “amid strong demand across all sizes and qualities.”
Richard Duffy, CEO of Petra, said of Tender 4: “Demand spanned the entire spectrum of rough assortments and sizes, with a notable increase in the price of larger stones – particularly the white D-colours, for which Cullinan is renowned, as well as fancy coloured diamonds. Whilst we believe this market reflects the structural change in underlying supply and demand dynamics, which we expect to continue in the medium term, it is too soon to determine what impact the current conflict in Ukraine will have on the global economy and the diamond market specifically.”