UK-based miner Petra Diamonds has reported a rise of 49% in revenue for the first six months of 2021. According to IDEX Online, Petra said that demand was high, prices were up 16% year-on-year, and the miner was “optimistic about the next six months.”
Revenue in H1 FY 2022 totaled $265 million, “largely driven by the sale of exceptional stones which brought in $78 million.” Petra’s production forecast for 2021 remained unchanged at 3.3-3.6 million carats. Because of the Covid-19 pandemic, the miner said it would hold three rather than four tenders.
Petra’s CEO Richard Duffy commented: “This strong operating performance, together with proceeds from the sale of exceptional stones supported by a strong market delivering ongoing price increases, has raised profitability, further strengthened our balance sheet and improved our cash position, which sets us up well for the second half of FY 2022 and beyond.”
