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Petra confident of meeting 2014 output target despite strike

7th October 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – London-listed Petra Diamonds expects to maintain its 2014 output guidance of three-million carats of diamonds despite a three-week strike that hampered production at some of its operations.

This followed a production rate of 816 735 ct during the first quarter of the 2014 financial year, amid industrial action at some operations between August 29 and September 16.

"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,” said CEO Johan Dippenaar.

The group, which delivered 2.67-million carats in the 2013 financial year, aimed to increase production to five-million carats a year by 2019.

Petra would release its interim management statement, outlining the production and sales results for first quarter of 2014, in November.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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