Petra lowers production target for fiscal 2013

Mining major Petra Diamonds Ltd. has reduced its production target forecast for the year ending June 30, 2013, by a quarter of a million carats to 2.9 million carats. The company is revising the mining scope of its Finsch mine in South Africa, while its Williamson mine in Tanzania recorded lowered production, reports say.

The company has interests in seven producing mines in South Africa and one in Tanzania. Its production in fiscal 2012 stood at 2.2 million carats.