Petra Diamonds today raked in $102.9 million during its first tender of FY2023, which saw the sale of 520,011 carats – down 9% in number of carats sold on the previous tender in June, but 11% more in revenue.
According to IDEX Online, average price per carat was up 21% to $198 over Tender 6 in FY 2022.
Richard Duffy, Petra’s CEO, said: “We have achieved strong sales in the first tender of FY 2023, realizing US$102.9 million due to a high proportion of high-value gem-quality single stones particularly from the Cullinan Mine […] We have seen strong support in fancy-coloured and large white stones while pricing of smaller stones has continued its recent upward trend. Subdued demand in China has led to relative pricing pressure on 0.75ct up to 5ct size ranges.”
