Petra Diamonds
Limited
("Petra" or the "Company" or the
“Group”)
Trading Update for
the Six Months ended 31 December
2021
Petra Diamonds Limited announces the following unaudited Trading
Update for the six months ended 31 December
2021 (the “Period”, “H1 FY 2022”, or “H1”) ahead of the
publication of the Company’s Interim Results for the Period on
22 February 2022.
Richard
Duffy, Chief Executive of Petra Diamonds, commented:
“I am very pleased with both the
significant improvement in our safety performance in H1 and our
robust operating results, with production comfortably tracking our
guidance. This strong operating performance, together with proceeds
from the sale of Exceptional Stones supported by a strong market
delivering ongoing price increases, has raised profitability,
further strengthened our balance sheet and improved our cash
position, which sets us up well for the second half of FY 2022 and
beyond.”
H1 FY 2022 Summary:
- Lost Time Injury Frequency Rate (“LTIFR”) down 64% to 0.18 (H1
FY 2021: 0.50), reflecting very good safety performance for H1 FY
2022. Total injuries, including LTIs, down 21% to 15 (H1 FY 2021:
19).
- Production up 2% to 1,777,424 carats (H1 FY 2021: 1,740,862
carats), largely attributable to Williamson resuming production
during the Period, following an extended period of care and
maintenance.
- Revenue up 49% to US$264.7
million (H1 FY 2021: US$178.1
million) driven particularly by the sale of Exceptional
Stones totalling US$77.9 million (H1
FY 2021: US$40.4 million) and further
supported by the strong diamond market, with rough diamond prices
on a like-for-like basis up ca. 16% compared to the preceding
six-month period to 30 June
2021.
- Framework Agreement entered into with the Government of
Tanzania regarding the Williamson
mine (reducing Petra’s indirect shareholding from 75% to 63%) and
execution of a non-binding Memorandum of Understanding (“MoU”) to
sell 50% (less one share) of the entity that holds Petra’s
shareholding in Williamson Diamonds Limited (“WDL”) to Caspian
Limited. Upon completion of the transactions contemplated by the
MoU and the capital restructuring in the Framework Agreement
becoming effective (expected in H2 2022), Petra and Caspian will each indirectly hold a 31.5%
stake in WDL, but with Petra retaining a controlling interest in
WDL and the Government of Tanzania
holding the remaining 37%. These agreements are in line with
Petra’s objective of reducing its exposure in Tanzania while retaining control, as well as a
share of the upside. The Williamson mine is therefore no longer
classified as an asset held for sale and all figures in this
announcement include Williamson.
- Share consolidation of one new share for every 50 existing
shares completed on 29 November 2021,
with the Company’s resultant issued share capital now consisting of
194,201,785 ordinary shares of 0.05
pence each.
- Balance Sheet as at 31 December
2021:
- Consolidated net debt of US$153.6
million (30 September 2021:
US$201.4 million).
- Unrestricted cash of US$256.7
million (30 September 2021:
US$209.8 million).
- Diamond debtors of US$0.4 million
(30 September 2021: US$0.1 million).
- Diamond inventory valued at US$59.1
million (30 September 2021:
US$76.0 million) at the South African
operations and valued at US$20.5
million (30 September 2021:
US$13.5 million) at Williamson.
H1 FY 2022 Production, Sales –
Summary
|
Unit |
H1 FY
2022 |
H1 FY
2021 |
Variance |
FY
20211 |
Gross ore
processed |
Mt |
5.6 |
4.4 |
+27% |
8.1 |
Gross diamonds
recovered |
Carats |
1,777,424 |
1,740,862 |
+2% |
3,240,312 |
Gross diamonds
sold |
Carats |
1,595,851 |
1,712,797 |
-7% |
3,960,475 |
Gross revenue |
US$M |
264.7 |
178.1 |
+49% |
406.9 |
Note:
1.
For comparative purposes, the FY 2021 figures have been restated to
include Williamson.
Outlook:
- FY 2022 gross production guidance of 3.3 to 3.6 Mcts remains
unchanged, while FY 2022 gross Capex is expected to come in towards
the lower end of earlier guidance of US$78 to US$92
million.
- As previously announced, the Cullinan mine experienced
convergence in Tunnel 41 (“T41”) on the eastern side of the C-Cut
block cave during the Period, impacting 18 of a total of 187 draw
points. Mitigating steps were rapidly introduced which are now
largely offsetting the impact on Cullinan’s production for FY 2022,
resulting in the mine’s production guidance remaining unchanged at
1.7 to 1.9 Mcts for FY 2022.
- The Business Re-Engineering Projects at Finsch and
Koffiefontein initiated in July 2021
continue and the Company will be in a position to provide further
information on these projects in its Interim Results in
February 2022.
- The outbreak of the Omicron variant led to a significant
increase in the spread of the Covid-19 virus globally. There has
only been a limited impact on our South African and Tanzanian
operations during this wave, which is generally perceived to have
now passed its peak in South
Africa. Certain travel restrictions were imposed on travel
to and from South Africa and while
these may impact some of our customers’ ability to attend South
African based tenders, we will continue our flexible approach in
planning upcoming sales events. This may include the Company only
hosting three tenders during H2 FY 2022 as opposed to the standard
four tenders, which was the norm prior to the outbreak of the
pandemic, in order to maximise possible client attendance and is
not expected to have any significant impact on carats sold for full
year FY 2022. The Company will continue to monitor developments at
the same time as encouraging employees to be vaccinated.
- Discussions with the South African Lender Group around the
possible refinancing of the first lien debt continued during Q2 FY
2022 and are on track to be concluded during Q3 FY 2022.
- The Company will release its Interim Results for the six months
to 31 December 2021 on 22 February 2022. On the same day, the Company
plans to hold an Investor Day at 9:30am
GMT to, amongst others, update the market on the Company’s
strategy and longer-term guidance. More details will follow closer
to the date.
Results Webcasts – 9:30am and 4:00pm
GMT today
Petra’s Chief Executive Richard
Duffy and Finance Director Jacques
Breytenbach will host a results webcast at 9:30am GMT on 18 January
2022. Participants can join the webcast by registering
at:
https://www.petradiamonds.com/go/tu18jan22-09h30
A recording of the webcast will be available later that
day on Petra’s website at:
https://www.petradiamonds.com/investors/results-reports/ and on
the link above.
There will be a second webcast on 18
January 2022 for international investors at 4:00pm GMT. Participants can join the
webcast by registering at:
https://www.petradiamonds.com/go/tu18jan22-16h00
Trading Update
Health and safety
The Lost Time Injury Frequency Rate (“LTIFR”) for H1 FY 2022
decreased to 0.18 (H1 FY 2021: 0.50). The LTIs during the Period
continued to be of low severity and mostly behavioural in nature.
The various remedial actions and behaviour-based intervention
programmes previously announced have assisted in achieving the
strong improvement in the safety trend. The total number of
injuries during H1 FY 2022, which includes LTIs, decreased to 15
(H1 FY 2021: 19). Petra continues to target a zero-harm working
environment.
COVID-19 remains a risk to the health and safety of the Group’s
workforce. Petra has implemented systems and strategies across all
its operations aimed at preventing and/or containing the spread of
the virus. Petra’s focus remains on a vaccination drive of
its employees. In South Africa,
2,171 employees have been fully vaccinated (52% of the workforce)
and 292 partially vaccinated (13% of the workforce), while at
Williamson the vaccination campaign is progressing, although the
roll-out has been slower. More information on the Company’s
response to the pandemic is available on its website:
https://www.petradiamonds.com/sustainability/health-and-safety/our-response-to-covid-19/.
Production and Operations
H1 FY 2022 production was in line with guidance and totalled
1,777,424 carats (H1 FY 2021: 1,740,862 carats). During the Period,
Williamson resumed production, having been on care and maintenance
since April 2020, while steps to
address both the prior waste ingress at Finsch as well as the
convergence of a tunnel at Cullinan have yielded positive
results.
As previously announced, during September
2021 convergence was experienced at the southern end of
Tunnel 41 in the C-Cut. Remedial action was focused on arresting
convergence by stabilising the affected pillars, thereby protecting
the tunnel so that access could be re-established once the area had
stabilised, and this was quickly achieved.
Initial estimates on the impact on production indicated a
potential loss of approximately 30,000 tonnes per month for a
period of 12 to 14 months. This has successfully been mitigated to
a large extent by the increased rate of draw from the draw points
surrounding the affected area in Tunnel 41 in order to de-stress
the affected pillars. The impact on production is now estimated to
be a loss of only some 11,000 tonnes per month compared with the
business plan to the end of November
2022. Cullinan is still expected to deliver on its annual
guidance for FY 2022 of 1.7 to 1.9 Mcts.
The Business Re-Engineering Projects at Finsch and
Koffiefontein, that were initiated in July
2021 to comprehensively review and improve the mines’ cost
bases and enhance operating margins, are progressing well and the
Company will outline the preliminary conclusions of both projects
in its Interim Results in February
2022.
Production ramp-up at Williamson commenced during H1 FY 2022
with 1.4 Mt ROM processed in the period, yielding 82.9 Kcts,
including the exceptional 32.32 carat pink stone covered in
‘Diamond Sales’.
Diamond market
The diamond market ended the calendar year in a strong state,
with evidence of buoyant jewellery sales during the important
festive retail period as consumers released pent-up demand for
luxury items. Polished prices appeared to end 2021 around the
year’s highs and some industry commentators are predicting record
jewellery sales for 2021. Demand at Petra’s most recent tender
spanned across the entire spectrum of rough assortments and sizes
and reflected the shortages of goods further to the recent
contraction of global rough supply.
The Company continues to closely monitor the impact of COVID-19
on its clients’ ability to attend tenders and will continue its
flexible approach in planning its upcoming sales events.
Diamond
Sales
H1 FY 2022 revenue increased 49% to US$264.7 million (H1 FY 2021: US$178.1 million) driven by the sale of
Exceptional Stones totalling US$77.9
million (H1 FY 2021: US$40.4
million), being:
- the exceptional 39.34 carat blue diamond from the Cullinan mine
sold for US$40.2 million;
- the 342.92 carat Type IIa white diamond from the Cullinan mine
sold for US$10 million (the Company
has retained a 50% interest in the profit uplift of the polished
proceeds, after costs, of the 342.92 carat white diamond, as well
as an 18.30 carat Type IIb blue diamond which sold for US$3.5 million);
- the exceptional 32.32 carat pink diamond from the Williamson
mine sold for US$13.8 million;
and
- the 295.79 carat white diamond from the Cullinan mine sold for
US$13.9 million.
H1 revenue also benefited from realised diamond prices on a
like-for-like basis being up ca. 16% compared to the preceding
six-month period to 30 June 2021.
Sales volumes reduced by some 7% compared to the comparative
period when significantly higher volumes were sold, mostly
off-tender, following the inventory build witnessed late in FY 2020
after the initial COVID-19 outbreak. Tender volumes and resultant
diamond inventories have now normalised in line with normal tender
timings.
Project 2022 Update
Project 2022 commenced in July
2019 and has now reached the final half year of this
36-month project scheduled for completion in June 2022. The project’s key focus was to
increase the cash flow generation of the Company through increased
production levels and reduced operating and capital expenditure,
while introducing a standardised business improvement process as
part of the Company’s operating model.
The production results of H1 FY 2022 are testament to the
positive impact of Project 2022’s ideas and principles on
stabilising and improving operating performance, evident at
Cullinan and Finsch in particular. This, together with the positive
impact of Project 2022 on the operating and capital cost
performance of the operations, will deliver or exceed annualised
operating cashflow benefits of circa US$70
million and are expected to result in the Group delivering
towards the upper end of its US$100
to US$150 million net free cashflow
target by the end of June 2022.
As a follow on from Project 2022, and using the same principles,
Business Re-Engineering Projects at Finsch and Koffiefontein are
underway to ensure the feasibility of future life extension capital
projects at Finsch, through the introduction of a reduced operating
cost model that would allow the development of new mining blocks,
and to remove the negative cash flow performance of
Koffiefontein.
The first and second phases of the Project 2022 Organisational
Design (“OD”) Review have been completed, which involved updating
role descriptions, grading these roles and amending the Group’s
Remuneration Policy to address both market competitiveness and
internal equity to strategically manage the investment in our
employees. The focus of the OD Project in FY 2022 is on
improving performance management through developing and aligning
KPIs across the business to further enhance accountability and
delivery.
The transition from Project 2022 to business improvement being
integrated with the Company’s operating model, to ensure that the
benefits of the structures and systems created by Project 2022
continue over the longer term, is in progress and is scheduled to
be concluded by June 2022.
Williamson Mine – Human Rights
Update
The Company provides the following update with regards to the
Independent Grievance Mechanism (“IGM”) and other remedial
initiatives and community programmes that have been put in place to
address the historical allegations of human rights abuses at the
Williamson mine in Tanzania. More
information on this matter can be found on the Company’s website
at:
https://www.petradiamonds.com/our-operations/our-mines/williamson/allegations-of-human-rights-abuses-at-the-williamson-mine/.
During H1 FY 2022, a series of engagements with Government
Ministries and Agencies, Civil Society and NGOs were conducted in
Dodoma and Dar es Salaam, seeking feedback and support on the
proposed design of the IGM. Local engagements, particularly
with those for whom the IGM is intended, are planned for Q3 FY
2022, following successful engagements at the national level. The
current target is for the launch of the pilot phase of the IGM by
the end of June 2022 (end of FY 2022)
and the IGM becoming fully operational by the end of Q1 FY
2023.
Whilst the IGM is still being developed, a mechanism has been
set up to enable community members to confidentially and securely
register alleged historical Tier 2 grievances. This mechanism
continues to receive such grievances and a significant number have
been registered. As the IGM is not yet operational and
therefore unable to commence the investigation of such grievances,
it is too early to evaluate the merits of them.
As previously announced, a number of projects are being put in
place to provide sustainable benefits to the communities located
close to the mine, with in excess of £1 million of agreed funding
paid by Petra into an escrow account to fund these projects. The
gender-based violence campaign has now launched and provision of
physiotherapy services have started to be provided from Mwadui
hospital.
During H1 FY 2022, there was a total of 295 reported incidents
of illegal incursions onto the Williamson mine lease area,
resulting in twelve illegal miners, ten security officials and five
police officials suffering minor injuries and 74 arrests being
made. These incidents will be further investigated as appropriate
and corrective actions taken where necessary. Subject to the
outcome of these investigations, WDL and the Company believe the
WDL and contracted security teams acted in accordance with the
Voluntary Principles on Security and Human Rights.
WDL is also continuing its extensive engagement with communities
around the mine to highlight the dangers of illegal mining, seeking
to reduce illegal incursions onto the Williamson mine lease area,
with a particular focus on seeking to reduce or eliminate the
involvement of minors in illegal mining. Further, WDL continues its
engagement at local and central Government level to work with the
authorities to act against the illegal syndicates that are believed
to be funding many of the incursions.
The Company will continue to monitor the effects of actions
taken to date and is committed to the programmes and initiatives
detailed in its 12 May 2021
announcement, available on the website link noted above.
~ Ends ~
For further information, please
contact:
Petra Diamonds,
London
Telephone: +44 20 7494 8203
Cathy
Malins
investorrelations@petradiamonds.com
Des Kilalea
Julia Stone
Notes:
- The following definitions have been used in this
announcement:
- Exceptional Stones: diamonds with a valuation and selling
price of US$5m or more per
stone
- cpht: carats per hundred tonnes
- Kcts: thousand carats
- Kt: thousand tonnes
- LOM: life of mine
- LTI: lost time injury
- LTIFR: lost time injury frequency rate
- Mcts: million carats
- Mt: million tonnes
- FY: financial year
- Q: quarter of the financial year
- ROM: run-of-mine (i.e. production from the primary
orebody)
- SLC: sub level cave
- m: million
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and
a supplier of gem quality rough diamonds to the international
market. The Company’s portfolio incorporates interests in three
underground producing mines in South
Africa (Finsch, Cullinan and Koffiefontein) and one open pit
mine in Tanzania (Williamson).
Petra's strategy is to focus on value rather than volume
production by optimising recoveries from its high-quality asset
base in order to maximise their efficiency and profitability. The
Group has a significant resource base of ca. 230 million carats,
which supports the potential for long-life operations.
Petra strives to conduct all operations according to the highest
ethical standards and only operates in countries which are members
of the Kimberley Process. The Company aims to generate tangible
value for each of its stakeholders, thereby contributing to the
socio-economic development of its host countries and supporting
long-term sustainable operations to the benefit of its employees,
partners and communities.
Petra is quoted with a premium listing on the Main Market of the
London Stock Exchange under the ticker 'PDL'. The Company’s
US$336.7 million notes due in 2026
are listed on the Irish Stock Exchange and admitted to trading on
the Global Exchange Market. For more information, visit
www.petradiamonds.com.
APPENDIX – CORPORATE & FINANCIAL
AND PRODUCTION & SALES TABLES
(INCLUDING WILLIAMSON)
|
Unit |
31
December 2021 |
30
September 2021 |
30
June 2021 |
31
December 2020 |
Closing exchange
rate used for conversion |
|
R15.99:US$1 |
R15.09:US$1 |
R14.27:US$1 |
R14.69:US$1 |
Cash at
bank including Williamson (including restricted cash)
1
Cash at bank - Williamson |
US$M
US$M |
272.3
16.5 |
225.6
6.2 |
173.0
9.2 |
106.3
2.5 |
Diamond
inventories – including Williamson1, 2, 3
Diamond inventories - Williamson1, 2, 3 |
US$M
Carats
US$M
Carats |
79.6
819,252
20.5
133,239 |
89.5
935,901
13.5
91,397 |
56.5
637,676
11.4
76,977 |
105.0
1,385,402
11.4
76,977 |
Diamond
debtors – including Williamson
Diamond debtors - Williamson |
US$M
US$M |
0.4
- |
0.1
- |
38.3
- |
3.7
- |
US$336.7m loan notes
(issued March 2021)4 |
US$M |
346.4 |
336.8 |
327.3 |
- |
US$650m loan notes
(issued April 2017)5 |
US$M |
- |
- |
- |
702.0 |
Bank loans and
borrowings6 |
US$M |
79.9 |
90.3 |
103.0 |
61.2 |
BEE partner bank
facilities6 |
US$M |
- |
- |
- |
47.2 |
Bank facilities
undrawn and available6 |
US$M |
0.6 |
3.9 |
7.7 |
- |
Consolidated net debt
– including Williamson cash at bank7 |
US$M |
153.6 |
201.4 |
219.0 |
700.4 |
Notes:
- Cash at bank and diamond inventories include balances at
Williamson as at 31 December 2021
following the Company entering into the MoU with Caspian during December
2021. Comparatives for 30 September
2021, 30 June 2021 and
31 December 2020 have been adjusted
to include balances attributable to Williamson.
- Recorded at the lower of cost and net realisable
value.
- Williamson’s diamond inventory includes the 71,654.45 carat
parcel of diamonds blocked for export during August 2017, with a carrying value of
US$10.6 million. In terms of the
framework agreement reached with the Government of Tanzania, as announced on 13 December 2021, the proceeds from the sale of
this parcel will be allocated to Williamson.
- The US$336.7 million loan
notes have a carrying value of US$346.4
million which represents the gross capital of US$336.7 million of notes, plus accrued interest
and net of unamortised transaction costs capitalised, issued
following the capital restructuring (the “Restructuring”) completed
during March 2021.
- The US$650 million loan notes
represent the gross capital of US$650
million of notes issued on April
2017, plus accrued and unpaid interest for the relevant
periods; these loan notes were settled in full following the
completion of the Restructuring.
- Bank loans and borrowings represent amounts drawn under the
Group’s refinanced South African bank facilities as part of the
Restructuring and comprise the ZAR876.4
million term loan (US$54.8
million), net of unamortised transaction costs capitalised
and ZAR402.1 million (US$25.1 million) drawn (including accrued
interest) under the ZAR408.8 million
(US$25.6 million) revolving credit
facility. Under the revolving credit facility, ZAR8.8 million (US$0.6
million) remains undrawn and available. During FY 2021 and
as part of the Restructuring, the BEE partner bank facilities
(which comprised the BEE guarantees) were settled by the Group
through proceeds of the ZAR1.2
billion term loan.
- Consolidated Net Debt is bank loans and borrowings plus loan
notes, less cash, less diamond debtors and includes the Black
Economic Empowerment guarantees of ZARnil as at 31 December 2021 (ca. US$47.2 million (ZAR693.4
million) as at 31 December
2020).
H1 FY 2022 Group Production and Sales–
Summary
|
Unit |
H1 FY
2022 |
H1 FY
2021 |
Variance |
FY
2021 |
Sales |
|
|
|
|
|
Diamonds sold |
Carats |
1,595,851 |
1,712,797 |
-7% |
3,960,475 |
Gross
revenue |
US$M |
264.7 |
178.1 |
+49% |
406.9 |
|
|
|
|
|
|
Production |
|
|
|
|
|
ROM tonnes |
Mt |
5.4 |
4.2 |
+29% |
7.7 |
Tailings & other
tonnes |
Mt |
0.2 |
0.2 |
0% |
0.4 |
Total tonnes
treated |
Mt |
5.6 |
4.4 |
+27% |
8.1 |
|
|
|
|
|
|
ROM diamonds |
Carats |
1,649,989 |
1,644,846 |
0% |
3,057,860 |
Tailings & other
diamonds |
Carats |
127,435 |
96,016 |
+33% |
182,452 |
Total
diamonds |
Carats |
1,777,424 |
1,740,862 |
+2% |
3,240,312 |
Cullinan – South Africa
|
Unit |
H1 FY
2022 |
H1 FY
2021 |
Variance |
FY
2021 |
Sales |
|
|
|
|
|
Gross revenue |
US$M |
167.7 |
107.3 |
+56% |
250.6 |
Diamonds sold |
Carats |
872,304 |
894,758 |
-3% |
2,261,058 |
Average price per
carat |
US$ |
192 |
120 |
+60% |
111 |
|
|
|
|
|
|
ROM
Production |
|
|
|
|
|
Tonnes treated |
Tonnes |
2,306,986 |
2,339,473 |
-1% |
4,614,802 |
Diamonds produced |
Carats |
843,202 |
913,626 |
-8% |
1,761,490 |
Grade1 |
Cpht |
36.5 |
39.1 |
-7% |
38.2 |
|
|
|
|
|
|
Tailings
Production |
|
|
|
|
|
Tonnes treated |
Tonnes |
238,293 |
221,385 |
+8% |
445,538 |
Diamonds produced |
Carats |
127,435 |
96,016 |
+33% |
182,452 |
Grade1 |
Cpht |
53.5 |
43.4 |
+23% |
41.0 |
|
|
|
|
|
|
Total
Production |
|
|
|
|
|
Tonnes treated |
Tonnes |
2,545,279 |
2,560,858 |
-1% |
5,060,339 |
Diamonds produced |
Carats |
970,637 |
1,009,642 |
-4% |
1,943,942 |
- The Company is not able to precisely measure the ROM /
tailings grade split because ore from both sources is processed
through the same plant; the Company therefore back-calculates the
grade with reference to resource grades.
Finsch – South Africa
|
Unit |
H1 FY
2022 |
H1 FY
2021 |
Variance |
FY
2021 |
Sales |
|
|
|
|
|
Gross revenue |
US$M |
65.7 |
54.8 |
+20% |
123.5 |
Diamonds sold |
Carats |
676,295 |
768,647 |
-12% |
1,602,312 |
Average price per
carat |
US$ |
97 |
71 |
+37% |
77 |
|
|
|
|
|
|
ROM
Production |
|
|
|
|
|
Tonnes treated |
Tonnes |
1,423,119 |
1,323,000 |
+8% |
2,311,195 |
Diamonds produced |
Carats |
701,543 |
695,308 |
+1% |
1,237,219 |
Grade |
Cpht |
49.3 |
52.6 |
-6% |
53.5 |
|
|
|
|
|
|
Total
Production |
|
|
|
|
|
Tonnes treated |
Tonnes |
1,423,119 |
1,323,000 |
+8% |
2,311,195 |
Diamonds produced |
Carats |
701,543 |
695,308 |
+1% |
1,237,219 |
Koffiefontein – South Africa
|
Unit |
H1 FY
2022 |
H1 FY
2021 |
Variance |
FY
2021 |
Sales |
|
|
|
|
|
Gross revenue |
US$M |
11.1 |
11.2 |
-1% |
28.0 |
Diamonds sold |
Carats |
20,638 |
18,945 |
+9% |
66,650 |
Average price per
carat |
US$ |
538 |
590 |
-9% |
419 |
|
|
|
|
|
|
ROM
Production |
|
|
|
|
|
Tonnes treated |
Tonnes |
317,310 |
493,661 |
-36% |
754,369 |
Diamonds produced |
Carats |
22,371 |
35,912 |
-38% |
59,151 |
Grade |
Cpht |
7.1 |
7.3 |
-3% |
7.8 |
|
|
|
|
|
|
Total
Production |
|
|
|
|
|
Tonnes treated |
Tonnes |
317,310 |
493,661 |
-36% |
754,369 |
Diamonds produced |
Carats |
22,371 |
35,912 |
-38% |
59,151 |
Williamson – Tanzania
|
Unit |
H1 FY
2022 |
H1 FY
2021 |
Variance |
FY
2021 |
Sales |
|
|
|
|
|
Gross revenue |
US$M |
20.2 |
4.6 |
+339% |
4.6 |
Diamonds sold |
Carats |
26,611 |
30,339 |
-12% |
30,339 |
Average price per
carat |
US$ |
760 |
150 |
+407% |
150 |
|
|
|
|
|
|
ROM
Production |
|
|
|
|
|
Tonnes treated |
Tonnes |
1,354,116 |
0 |
n.a |
0 |
Diamonds produced |
Carats |
82,873 |
0 |
n.a |
0 |
Grade |
Cpht |
6.1 |
0 |
n.a |
0 |
|
|
|
|
|
|
Total
Production |
|
|
|
|
|
Tonnes treated |
Tonnes |
1,354,116 |
0 |
n.a |
0 |
Diamonds produced |
Carats |
82,873 |
0 |
n.a |
0 |