Petra Diamonds

Production was flat in Q3, but jumped significantly in the last 9 months

Paul Zimnisky looks at the reasons why, from February 15 to March 13 of 2017, a market-cap weighted aggregation of diamond miners was down 14.3%

Petra Diamonds has announced its interim results for the six months to 31 December 2016 (H1 FY 2017)

“The DPA is interested in creating ling-term demand for diamonds”, he said, “and in cooperating with industry organizations to preserve consumer trust

Petra’s production was up 24% to 2,015,087 carats “due to increased contribution from undiluted run-of-mine

Petra Diamonds’ production of rough diamonds in the first quarter of fiscal 2017 was up 30% to nearly 1.1 million carats year-on-year

Petra Diamonds has sold 3.45 million carats of rough diamonds in fiscal 2016 - 9% more than the previous year

Johan Dippenaar, CEO of Petra Diamonds, said the recovery in diamond prices is leaving out the smallest and lowest-quality gems

Petra Diamonds has announced its preliminary results for the year ended 30 June 2016. According to Petra, revenue was up 1% to $430.9 million

In June, Petra recovered a 121.26 carat white diamond from Cullinan. A month later, the stone sold for $6 million, equating to some $49,480 per carat

Petra Diamonds has reported a 16% increase in diamond output to 3.7 million carats in the year ended 30 June 2016, compared with 3.18 million carats

Petra Diamonds and Ekapa Mining (Pty) Ltd have entered into a joint venture agreement, which combines the respective operations

Petra Diamonds Limited has sold the 121.26 carat white diamond recovered at the Cullinan mine in South Africa for US$6.0 million

Petra Diamonds Limited has recovered a 121.26 carat white diamond from the Cullinan mine in South Africa

The company sold 937,526 carats during the quarter, marking a 13% increase compared to the same period a year earlier

The sale price equates to some US$463,965 per carat, notes Petra Diamonds. The diamond miner will retain an interest in the polished proceeds