Petra Diamonds’ fifth diamond tender from Finsch and Williamson mines, which was concluded before the recent announcement of the US tariffs, resulted in total sales of 176,000 carats for $18 million.
It said overall average prices increased 9% on the fourth tender due largely to like-for-like prices increasing 8%, with the balance attributable to product mix.
Total revenue for the first five tenders of the financial year (FY) 2025 from rough diamond sales, excluding Cullinan Mine goods, is $103 million compared to $138 million a year earlier.
Meanwhile, Petra postponed tender sales of about 200,000 carats from the Cullinan Mine, which were originally expected to be completed by the end of this week.
However, the US tariffs announcement late last week resulted in considerable diamond market uncertainty.
Petra said it would postpone the tender sales until there is greater clarity around the impact of the tariffs.
“We believe this decision will lead to more supportive market prices being obtained for the Cullinan Mine goods,” said Petra.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
Produced and published as part of the project "Best practices have a voice"
