Robust rough demand from the midstream! Petra
Petra suspends production guidance for FY 2021 The diamond market has continued to show improved demand for rough diamonds, as evidenced by the recent strong sales from the majors De Beers and Alrosa, further to continued robust demand from the midstream, following positive consumer sales during the holiday retail season. There are expectations that this improved demand will continue throughout Q1 CY 2021. However, the current resurgence of Covid-19 in many countries poses a significant risk to the logistics and timing of sales in H2 FY 2021. Due to the ongoing uncertainty around the impact of Covid-19, production guidance for FY 2021 remains suspended. Furthermore, the Williamson mine remains on care and maintenance, as has been the case since April 2020; this situation remains under continual review. Project 2022 throughput targets have been impacted by reduced grade at Finsch as a result of the increased waste ingress and reduced volumes to manage the dilution, as mentioned