Petra Diamonds Q3 Production Update
UK-listed diamond producer, Petra Diamonds, almost doubled quarterly production as output from its Finsch mine in South Africa was taken into account for the first time, said Reuters citing a company announcement.
Prices for diamonds also rose, said Petra which added that it was likely to meet a full- year production forecast of some 2 million carats.
“The stronger market is due to a recovery in confidence after the initial impact of the Eurozone debt crisis abated,” Petra said in its announcement.
Petra’s production increased 126% to 622,509 carats for the third quarter of which the Finsch mine contributed 343,051 carats in the period.
Source: [ miningmx.com ]
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Posted by WoodlawnPost
on May 10 2012. Filed under Diamonds.
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