Petra Q3 output up 4%
JOHANNESBURG (miningweekly.com) – Africa-focused miner Petra Diamonds produced 647 248 ct of diamonds in the third quarter of the 2013 financial year, a 4% increase on the 622 509 ct produced in the third quarter of the previous financial year.
The Finsch mine contributed 343 988 ct, the Cullinan mine 206 844 ct, the Kimberley Underground operation 27 592 ct, Fissure Mines 18 129 ct and Koffiefontein 7 360 ct.
The Williamson mine, in Tanzania, produced 43 335 ct in the quarter.
The company, led by CEO Johan Dippenaar, noted in an interim management statement on Wednesday that the rough diamond market had, throughout the quarter ended March 31, continued on the firmer trend seen since the end of 2012, enabling Petra to earn $105.7-million in revenue for the quarter, up 8% on the $98-million earned in the prior comparative period.
Petra sold 668 193 ct in the period under review – a 7% increase on the 626 958 ct sold in the third quarter of 2012.
This included the sale of two “special” diamonds for a combined $3.8-million.
Meanwhile, production for the nine months ended March 31, amounted to about 1.89-million carats, up 20% compared with the 1.58-million carats produced in the nine months ended March 31, 2012.
Petra remained on track to meet its full-year production guidance of about 1.65-million carats.
Further, the diamond miner pointed out that the formal sales process for its Fissure Mines – comprising the Helam, Sedibeng and Start operations – had come to an end, but had not resulted in acceptable offers when mining expertise, funding capacity and other matters were taken into consideration.
Petra had, therefore, decided to downscale the Sedibeng and Star operations, while the Helam mine would continue to operate on a normal commercial basis.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...
VISIT SHOWROOM
ROSOND provides fast, efficient, safe, and cost-effective drilling and grouting services to mining and exploration industries throughout Africa.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
