Petra Diamonds Reports High Revenues

Petra Diamonds Ltd said its South African mined gems achieved high prices, helped by strong demand for rough, in the first half of the year. Petra recently added the Helam, Messina/Dancarl and Star mines to its group, following the recent merger with Crown Diamonds NL.

In an update on its South African operations, the ASX listed miner said South African mining operations are progressing well and production is expected to increase as planned for each of the mines over the next 6 months.

During the first half of the year, Run of Mine sales were 77,295 carats generating a revenue of $10.7 million.

Petra expects to produce 167,000 carats with annual sales revenue from the former Crown operations projected at $23 million.