GJ Town India

The first & second tender of FY 2025 sold 600K Cts   Petra Diamonds Limited reported, Final sales results for Tenders 1 and 2 FY 2025. Sales for the first and second tender cycles of FY 2025 closed this week, yielding US$76 million from 600 kcts sold. Average prices increased 13% over Tender 7 FY 2024, with product mix contributing 22%, partially offset by a 9% decrease in like-for-like prices with weakness evident in the smaller size fractions.   Richard Duffy, Chief Executive Officer of Petra, commented, Following changes to the mine plans announced at our Investor Day, diamond production increased 7% from the previous quarter on the back of solid performances from Cullinan Mine and Williamson, with Finsch transitioning from continuous to a two-shift operation.  We recorded 4 LTIs, resulting in our LTIFR rate increasing to 0.28 from 0.13 in the previous quarter. This is of concern to us given our focus on delivering zero-harm workplaces, and we have implemented a number

Petra revenue down 8% in H1 2020   Petra Diamonds Limited presented its’ Interim results for the six months to 31 December 2020 as H1, 2020. At Financial front Petra said, Revenue down 8% to US$178.1 million from 1,712,797 carats sold (H1 FY 2020: US$193.9 million from 1,743,807 carats sold) with the US$40.4 million proceeds from the Letlapa Tala Collection of blue diamonds, offset by weaker prices following the Covid-19 outbreak and fewer tenders during the Period.   Diamond pricing on a like-for-like basis increased by a further 8% at the Company's January 2021 tender that is confirming that pricing has now returned to pre-Covid-19 levels. Adjusted EBITDA3 up 20% to US$80.8 million (H1 FY 2020: US$67.2 million) yielding an adjusted EBITDA margin of 45%, up from 35% in H1 FY 2020 and 22% in FY 2020; driven by the sale of the Letlapa Tala Collection and reduced mining and processing costs. By casting their Outlook, Petra said, due to the ongoing uncertainty around the impact of

  Petra announces Report on payments to Governments!   Payments to Governments Report for the year ended 30 June 2020 is being announced by Petra Diamonds. This Report, which provides an overview of the payments to governments made by Petra Diamonds Limited, its subsidiaries and jointly controlled operations, is required under the United Kingdom’s Report on Payments to Governments Regulations 2014, which apply to large, UK-listed extractive companies.   The Report aims to satisfy the Regulations as well as the Disclosure and Transparency Rules of the Financial Conduct Authority in the UK. For the purposes of this Report, government will include any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government.  It excludes any payments to State Owned Enterprises to procure goods or services from these enterprises typically consisting of utilities such as water and electricity. This report is also available on t

Standalone tender for Letlapa Tala Collection in November   Petra Diamonds Limited announces the following unaudited Trading Update for the three months ended 30 September 2020, Q1 FY 2021. Q1 production down 10% to 974,346 carats against the same period-Q1 FY 2020 had remained of 1,082,764 carats, mainly due to the Williamson mine remaining on care and maintenance.   Q1 revenue increased 33% to US$82.0 million over the Q1 FY 2020 of US$61.6 million, mainly due to the release of inventory carried over from Q4 FY 2020. Although diamond prices increased ca. 21% on a like-for-like basis at the September 2020 tender in comparison to the prices obtained following the Covid-19 outbreak, with a further ca. 2% increase at the October 2020 tender post Period end, prices are still down around 10% in comparison to pre-Covid-19 levels.   Due to ongoing uncertainty around the impact of Covid-19, production guidance for FY 2021 remains suspended. While the mines are generally operating at plan

Type IIb blue diamonds special tender!   Petra Diamonds Limited announces a special tender process for the Letlapa Tala Collection, being five blue diamonds of significant colour, clarity, size and heritage, all sourced from the famed Cullinan Mine in South Africa. Letlapa Tala means ‘blue rock’ in Northern Sotho (commonly known as Pedi), the predominant language spoken in the Cullinan area.   The Letlapa Tala Collection consists of five Type IIb blue diamonds of 25.75, 21.25, 17.57, 11.42 and 9.61 carats in size. Type II diamonds contain no detectable nitrogen in their chemical structure and tend to display exceptional transparency. Type IIb stones contain a small amount of boron which is what determines their blue colour.   Blue diamonds are so rare that most people working in the diamond industry have never even seen one. There are no official statistics on their recovery, so it is therefore even more unusual that these five spectacular stones were all recovered within the sp

Q3 revenue decreased 7% yet remained up YoY ! Petra Diamonds presented report for the three month period 1 January 2019 to 31 March 2019 Q3 FY 2019 and the nine months ending FY 2019 YTD. Q3 production of 924,228 carats over Q3 FY 2018 was of 992,315 carats that reflecting increased production at Cullinan, Koffiefontein and Williamson, offset by lower production at Finsch. Petra Diamond Production for the nine months to 31 March 2019 up 4% to 2,943,374 carats over FY 2018 YTD of 2,836,272 carats. Petra claims that the production guidance of 3.8 – 4.0 million carats for FY 2019 maintained. Installation of the remaining draw points across the footprint of the C-Cut Phase 1 block cave at Cullinan is progressing as planned, with completion expected during H1 FY 2020. With the progression across the C-Cut footprint, the incidence of larger stones is improving as demonstrated by the recovery of two +100 carats gem-quality stones during the Period. Accordingly, the 425.

Petra Diamonds recovers Cullinan Mine Next sales cycle may offer the stone! Petra Diamonds Limited confirms that it has recovered a 209.9 carat D colour Type II gem quality diamond at its Cullinan Diamond Mine. This is the third +100ct Type II D colour gem quality diamond recovered since March 2019 and the fourth such stone in the current financial year. The recent recovery again demonstrates the prevalence of these types of stones in the Cullinan ore body, with an improved incidence of large and high-value stones as the C-Cut Phase 1 block cave progresses across the footprint, and the ability of the mine’s plant to recover the full spectrum of diamonds. The stone is expected to be sold during the fourth quarter ending 30 June 2019. The Company has also confirmed that ‘The Legacy’, the exceptional 425 carat D colour Type II A diamond recovered from the Cullinan mine on 29 March 2019, together with this stone, will be offered for sale during the course of the Compan

Cullinan had largest rough diamond ever found at 3,106 carats Petra Diamonds Limited confirms that it has recovered a 100.83 carat D-Colour Type II gem quality diamond, following another recent recovery of a 6.12 carat Type II blue stone at its Cullinan Diamond Mine. These recoveries demonstrate the prevalence of these types of stones in the Cullinan ore body as well as the ability of the mine’s plant to recover the full spectrum of diamonds. Both stones will be included in the Company’s upcoming March 2019 tender. Cullinan earned its place in history with the discovery of the Cullinan diamond in 1905, the largest rough gem diamond ever found at 3,106 carats, which was cut to form the two most important diamonds in the British Crown Jewels. Many of the world’s most famous diamonds herald from Cullinan, and it continues to produce world-class diamonds under Petra’s stewardship. Cullinan contains a world-class gross resource of 190.3 Mcts as at 30 June 2018, whic

Diamonds sale increased 15% in H1 FY 2019 Petra Diamonds Limited announces trading update for H1 FY 2019 & says the sale of Petra’s interest in the Kimberley Ekapa Mining Joint Venture which completed on 05 December 2018; all figures are stated excluding the KEM JV, unless otherwise specified. According to the update, H1 diamond production up 10% to 2,019,147 carats over the H1 FY 2018 of 1,843,956 carats. Full year production guidance of carat 3.8- 4.0 mn cts maintained. H1 revenue up 8% to US$207.1 million over the previous H1 FY 2018: US$191.7 million. Diamonds sale increased 15% to 1,736,357 carats that was in H1 FY 2018 of 1,510,361 carats. Rough diamond prices on a like-for-like basis reduced by caret 4% compared to H2 FY 2018 due to usual seasonal weakness. The product mix during H1, especially at Cullinan, yielded prices at the lower end of historical ranges. Capex of US$40.6 million for the Period tumbled significant low from H1 FY 2018 worth US$69.