Petra Diamonds on Track For Fiscal 2014 Target Despite Strike

(IDEX Online News) – Petra Diamonds says that following recent industrial action at some of its South African mines which ended on September 16, the company achieved production of 816,735 carats for its first fiscal quarter which ended on September 30.

"Given this strong production run rate, despite the challenging labor conditions and associated work stoppages, Petra remains on track to meet its stated production guidance of 3.0 million carats for the full year to June 30, 2014.

Petra will publish detailed production and sales results for its first fiscal quarter in November in an Interim Management Statement.

CEOJohan Dippenaar commented: "We are very pleased with the strong production rate with which we have started the 2014 financial year. Delivering this performance is testament to the quality and perseverance of Petra's operations management teams. The Company remains firmly on track to reach record output of 3 million carats in FY 2014."