Petra Diamonds revenues up 44% in fiscal 2011-12

At the close of the fiscal year ending June 30, 2012, Petra Diamonds achieved 44 percent increase (on y-o-y basis) in its revenues which touched $316.9 million. It saw 98 percent increase in production to 2.2 million carats.

The mining giant recorded a 52 percent increase in its mining and processing costs which touched $222.6 million, affecting the company to record a loss at $2.1 million. The previous fiscal had recorded a profit at $59.2 million. The company also recorded a foreign exchange loss worth $38.6 million.

The company noted that its developments of moving from AIM to the Main Market of the London Stock Exchange, acquiring and integrating the Finsch mine and delivery on production targets speak of its progress towards further growth.