Petra Diamonds will maintain its production guidance of 4.8-5 million carats for the fiscal year 2018, Rough & Polished reports. In 2016, the miner produced 4.01 million carats against a target of between 4.4-4.6 million carats.
However, the company noted in its annual general meeting report “risks to the fiscal year 2018 performance related to the labour disruption in South Africa […] as well as the uncertain outlook for Williamson mine in Tanzania”.
In Q1 of FY2018, Petra’s production was down 4% to 1,053,817 carats, mainly due to a planned reduction in tailings production at Finsch and Kimberley Ekapa Mining Joint Venture. Revenue was down 17% to $78.7 million from 711,277 carats sold during the period.
