Petra Diamonds says the final sales for its third tender cycle raked in $67.9 million from 519 400 carats sold.
This follows further sales of 56 600 carats for $ 9.3 million. An additional 25 200 carats of diamonds from the Cullinan and Finsch mines were sold for $3.1 million while a consignment from Williamson, which comprised 31,400 carats, achieved a sale price of $6.2 million.
It said final sales results delivered a 19.3% increase in like-for-like prices compared with the second tender cycle, demonstrating the company's belief that diamond prices have likely bottomed.
To date, total revenue from rough diamond sales for the fiscal year 2024 is $187.8 million, compared to $202.8 million in the first three tenders of the fiscal year 2023.
This excludes sales from the Koffiefontein mine, which is under care and maintenance.
The deferral of certain 2023 fiscal year sale parcels, which were auctioned as part of the first tender of the 2024 fiscal year, impacted year-on-year volume differences.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
