GJ Town India

Sales 613,682 carats diamonds in the tender 5 & 6    Petra Diamonds announces its combined Tender 5 & 6 FY 2025 sales results, following the decision made in April to postpone the sale of its Cullinan Mine goods. In total for these diamonds’ tenders, 613,682 carats were sold for US$53 million, at an average price of $86 per carat, bringing year-to-date sales revenues to $239 million from the sale of 2,390,976 carats.     This total includes 84,479 carats sold for US$14 million from Williamson, since the last tender results. This is the final tender sale from the Williamson Mine under Petra's ownership following the completion of the sale of the asset in May 2025. Total revenue YTD FY 2025 from rough diamond sales is US$239 million, compared to US$329 million in the first six tenders of FY 2024. In light of ongoing market uncertainty and the product mix issue at Cullinan mine, as referred to in the 9 April 2025 announcement, the Company will continue t...

  Understanding diamonds affordability & desirability Demand for diamonds over the long term is influenced primarily by affordability, which is closely linked to key economic fundamentals such as the growth of GDP and PDI. Additionally, the desirability of diamonds, both within the jewelry sector and relative to other nonessential goods and experiences, plays a significant role.  Historical data shows a close correlation between the demand for luxury goods, including diamonds, and real GDP and PDI. Affordability will continue to be supported in the long term by GDP and PDI expansion. However, a closer examination by country reveals a more nuanced picture. In the US, diamond demand has recently been somewhat stronger than PDI growth would indicate.   The natural diamond sector was notably robust after Covid-19 restrictions eased, benefiting from a rebound in weddings (a 12% increase in 2022 over the long-term average) and a heightened emphasis on emotional gifting...