29 Jan 2022
DiamondWorld Directory
-
Home |
News
Home
Petra Diamonds earns US$86.2 million in second tender
Petra closed its second tender of H1 FY 2016 with 606,080 carats sold yielding US$86.2 million in revenues
By: Diamond World News Service
|
Dec 11 2015 4:05PM
|
Reference: 12399  

DecreaseIncrease
Petra Diamonds Limited
Petra Diamonds Limited

Petra Diamonds Limited has announced that its second tender of H1 FY 2016, 1 July to 31 December 2015, with 606,080 carats sold yielding US$86.2 million in revenues, including the sale of the 23.16 carat pink stone from Williamson for US$10.05 million. All goods were sold, with the exception of ca. 3,200 carats with an estimated value of around US$166,000. 

The company also noted that the pricing on a like for like basis was flat in comparison to Petra's first tender of FY 2016; however the expected improvement in product mix has favourably impacted the average value per carat achieved for each of the Company's operations. 

Petra Diamonds further elaborates that the product mix can vary significantly from tender to tender, but it has guided for an improved product mix in FY 2016 due to the shift from the old diluted mining blocks at its underground mines in South Africa to the new undiluted mining blocks, as well as a lesser reliance on production from the Group's lower value tailings resources. The first significant input of undiluted ore is on track to contribute to the Group's production profile from H2 FY 2016, 1 January to 30 June 2016 onwards. 

The company also points out in its announcement that the rough diamond prices remain down ca. 9 per cent for FY 2016 to date on a like for like basis in comparison to Petra's actual results for Q4 FY 2015. However the impact of this on Petra's financial results has been mitigated by the significant weakening of the South African Rand over this period.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Search News by City
Recent Issue
2021
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 30317
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 6938
GJEPC Chairman Interview
Views: 26585
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 36644
Promo for IJ Awards 2012 at NDTV Profit
Views: 50531
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 64073
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 20545
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 48670
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 47884
Member of:
Supporter of: