Petra Diamonds Sales results for Tender 6 of FY 2022

 
TIDMPDL 
 
FOR IMMEDIATE RELEASE 
 
30 June 2022                                                                                                                                                                              LSE: PDL 
 
                                Petra Diamonds 
 
                     Sales results for Tender 6 of FY 2022 
 
Like-for-like diamond prices up 7.7% on previous tender 
 
Richard Duffy, Chief Executive Officer of Petra Diamonds (Petra), said: 
 
"The Tender 6 results conclude a strong year for Petra's diamond sales both in 
terms of pricing and the demand we have seen. The significant interest shown at 
Tender 6 bears testament to the ongoing strength of the rough diamond market. 
We have seen pricing support across our product mix, with particular strength 
in the prices of both white and coloured gem-quality stones over the last 12 
months." 
 
Petra announces the results of Tender 6 of FY 2022, at which 569,496 carats 
were sold for a total of US$93.0 million, bringing total sales for FY 2022 to 
US$584.5 million across Petra's mining operations. 
 
                        Tender 6      Tender 5        FY 22         FY 21 
                        June 2022     May 2022    12 months to  12 months to 
                                                   30 Jun 2022   30 Jun 2021 
 
Diamonds sold            569,496       635,806      3,536,371     3,960,475 
(carats) 
 
Sales (US$ million)       93.0          86.1          584.5         406.9 
 
Like-for-like rough diamond prices increased by 7.7% on Tender 5 (announced on 
3 May 2022) while full year like-for-like prices increased 41.5% compared to FY 
2021, with the balance of price movement attributable to product mix. Strong 
demand, with resultant price increases, was evident across all size and quality 
categories. 
 
No Exceptional Stones were sold during this tender cycle. During FY 2022, 
revenue from Exceptional Stones totalled US$89.0 million (US$75.2 million from 
Cullinan Mine and US$13.8 million from Williamson) compared to US$62.0 million 
Exceptional Stone revenue (all from Cullinan Mine) in the previous year. Petra 
classifies 'Exceptional Stones' as rough diamonds that sell for US$5 million or 
more each. 
 
Mine by mine prices for Tender 6 are set out in the table below: 
 
      US$/carat         Tender 6      Tender 5        FY 22         FY 21 
                        June 2022     May 2022    12 months to  12 months to 
                                                   30 Jun 2022   30 Jun 2021 
 
Cullinan Mine1             151           111           169           111 
 
Finsch                     140           122           118           77 
 
Koffiefontein              614           431           581           419 
 
Williamson1                272           341           384           150 
 
Note 1: Prices for both Cullinan Mine and the Williamson mine include proceeds 
from the sale of Exceptional Stones, noting that there were a number of high 
value Exceptional Stones from the Cullinan Mine and a high value Exceptional 
Stone at the Williamson mine in FY 2022. 
 
The Company will provide further details of operating results when it releases 
its FY 2022 Trading Update on 19 July 2022. 
 
Tender 1 of FY 2023 is expected to take place August/September 2022. 
 
                                    Ends 
 
For further information, please contact: 
 
Petra Diamonds, London                 Telephone: +44 20 7494 8203 
 
Jill Sherratt 
investorrelations@petradiamonds.com 
 
Patrick Pittaway 
 
Julia Stone 
 
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 Group's portfolio 
incorporates interests in three underground producing mines in South Africa 
(Finsch, Cullinan Mine 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 Group 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 Group'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. 
 
 
 
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