Petra Revenues and Production Soar, Prices Decline

July 31, 12 by Edahn Golan

(IDEX Online News) – Petra Diamonds had a good year on the back of rising production levels. Revenue increased 44 percent to $316.9 million in the year ended June 30, while diamond production nearly doubled to 2.2 million carats.

The average price per carat Petra achieved declined 19 percent to $152.03, based on figures the company published in a trading update on Tuesday.

The improved production results include now mining at the Finsch mine in South Africa

Petra sold 2.1 million carats in the fiscal year, up 77 percent compared to the previous fiscal year.

The company will be publishing a full year analyst guidance on August 15 and announce its full financial results for the year on September 24.

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