https://www.engineeringnews.co.za

Petra delivers sound Q1 production

22nd October 2018

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

London-listed Petra Diamonds achieved a solid operational performance in the three months ended September 30 – the first quarter of its 2019 financial year.

Production for the period increased by 21% year-on-year to 1.07-million carats, mainly as a result of a 25% increase in run-of-mine production to 1.02-million carats, but offset by planned reductions in tailings recoveries at the company’s Finsch mine in South Africa.

The diamond miner noted in a trading update to the market on Monday that first-quarter revenue had increased by 22% year-on-year to $80.2-million from the sale of 626 541 ct.

Diamond prices, on a like-for-like basis, for the quarter were about 5% lower year-on-year,

owing to the usual seasonal weakness, but partially offset by the improvement in product mix.

Petra owns and operates the Finsch, Cullinan and Koffiefontein mines, in South Africa, and the Williamson mine, in Tanzania.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Array

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.256 0.307s - 156pq - 2rq
Subscribe Now