Petra Diamonds
Limited
H1 FY 2023
Operating Update
Petra reports its operating results
for the first half of FY 2023
Richard Duffy, Chief Executive
Officer of Petra, commented:
“Despite some challenges in the first half of FY 2023,
Petra continues to benefit from the operational improvements we
have made across the business which provide for greater stability
and resilience. As a result, we are seeing improvements to
equipment and tunnel availability at Finsch, resulting in an
increase in ROM grades from December
2022. At the Cullinan Mine, we have continued to mine and
recover targeted tonnes as we continue to seek to mitigate the
impact of the recent grade challenges experienced.
Although lower grades at the Cullinan
Mine are now expected to continue through FY 2024, mitigating
factors around the re-opening of Tunnels 36 and 41 and the
completion of development of two new tunnels, Tunnels 46 and 50,
are expected to start contributing to production in FY 2025 and
more than offset the impact of lower grades this financial year and
next. The CC1E project currently under development is further
expected to contribute higher grade tonnes from the end of FY 2024
and return average grades towards the 40cpht level. At Finsch, the
acquisition of new drill rigs and LHD loaders supports improved
production in the second half of FY 2023.
Strong relationships at both
government and local level, as well as a robust governance
framework, provided for a swift response to the regrettable
tailings storage facility (TSF) breach that occurred at Williamson
on 7 November 2022. With this
continued cooperation and focused team on the ground, I am
confident production will resume safely from the beginning of FY
2024 and that the actions taken to date by Williamson Diamonds
Limited will enable the environmental and social impacts to be
fully remediated.
After having commenced mining in the
early 1880s and being a renowned source of gem-quality white and
coloured diamonds, the Board, in ongoing consultation with its
stakeholders, has taken the difficult decision to cease operations
and place Koffiefontein on care and maintenance. Engagement with
our key stakeholders remains constructive as we seek to ensure an
inclusive and responsible process towards mine closure.
Following on from the above, we have
reduced our diamond production guidance for this financial year to
circa 2.8 Mcts and 3.0 to 3.3 Mcts for FY 2024, which includes the
impact of lost production at Williamson and Koffiefontein. Guidance
in FY 2025 remains unchanged.
With a stronger product mix offsetting the recent softness in
rough diamond prices, we remain confident that we will continue to
generate cash to fund capex, allow further deleveraging and pay
dividends.”
Highlights vs H1 FY 2022
- LTIFR and LTIs marginally increased to 0.19 and 7
respectively
- Ore processed decreased 4% to 5.4Mt, largely due to the
suspension of production at Williamson and lower tonnes mined at
Finsch
- Total diamond production decreased 21% to 1.4 million carats
due to lower grades at the Cullinan Mine, lower tonnes mined at
Finsch and production suspensions at Williamson and
Koffiefontein
- Support from a weaker Rand and more stable diamond pricing
- Revenue amounted to US$212.1
million (H1 FY 2022: US$264.7
million)
- Post the Tender 3 sales results announcement released on
13 December 2022, additional
off-tender sales of some US$4.3
million (40,246 carats) to local South African cutting &
polishing clients were effected, bringing total rough diamond sales
for the period to US$210.7
million
- Revenue includes US$1.4 million
from Petra’s 50% share in the profit from the sale of polished
stones cut from the 342.92 carat rough white diamond sold into a
partnership for US$10 million in
August 2021
- Gross debt decreased to US$241.7
million (30 June 2022:
US$366.2 million) reflecting the
successful tender offer to repurchase second lien notes
Safety,
sales and production |
Unit |
H1 FY 2023 |
H1 FY 2022 |
Q2 |
Q1 |
Total |
Q2 |
Q1 |
Total |
Safety |
|
|
|
|
|
|
|
LTIFR |
- |
0.22 |
0.16 |
0.19 |
0.06 |
0.31 |
0.18 |
LTIs |
Number |
4 |
3 |
7 |
1 |
5 |
6 |
|
|
|
|
|
|
|
|
Sales |
|
|
|
|
|
|
|
Diamonds sold |
Carats |
792,889 |
520,011 |
1,312,900 |
1,017,665 |
578,186 |
1,595,851 |
Revenue1 |
US$m |
107.8 |
102.9 |
210.7 |
149.9 |
114.9 |
264.7 |
Contribution from
Exceptional Stones |
US$m |
0.0 |
0.0 |
0.0 |
27.7 |
50.2 |
77.9 |
|
|
|
|
|
|
|
|
Production |
|
|
|
|
|
|
|
ROM tonnes |
Tonnes |
2,198,975 |
3,042,017 |
5,240,992 |
2,935,488 |
2,466,044 |
5,401,532 |
Tailings and other
tonnes |
Tonnes |
92,375 |
105,715 |
198,090 |
122,699 |
115,593 |
238,292 |
Total tonnes
treated |
Tonnes |
2,291,350 |
3,147,732 |
5,439,082 |
3,058,187 |
2,581,637 |
5,639,824 |
|
|
|
|
|
|
|
|
ROM diamonds |
Carats |
604,917 |
733,014 |
1,337,931 |
839,643 |
810,346 |
1,649,989 |
Tailings and other
diamonds |
Carats |
31,612 |
30,206 |
61,818 |
61,370 |
66,065 |
127,435 |
Total diamonds |
Carats |
636,529 |
763,220 |
1,399,749 |
901,013 |
876,411 |
1,777,424 |
1 Revenue reflects proceeds from the sale
of rough diamonds and excludes revenue from profit share
arrangements (as noted in the text above)
2 Petra classifies “Exceptional Stones” as
rough diamonds which sell for US$5
million or more each
- Production guidance for FY 2023 & FY 2024 revised downwards
from 3.3 to 3.6 Mcts for each of these years to circa 2.8 Mcts for
FY 2023, increasing to 3.0 to 3.3 Mcts for FY 2024. The adjustment
incorporates the impact of production curtailment at Williamson on
FY 2023 of c. 200 kcts, cessation of production at Koffiefontein
during H1 FY 2023 of c. 40 kcts p.a. for both FY 2023 and FY 2024,
lower H1 FY 2023 production at Finsch compared to earlier guidance
of c. 85 kcts and a restated grade forecast for the Cullinan Mine
for FY 2023 and FY 2024 given accelerated waste ingress of c. 200
kcts per year for each of the two years
Production and guidance
- LTI and LTIFR increased marginally in H1 FY 2023 due to an
increase in the number of LTIs, with the LTIFR impacted by a
smaller number of hours worked at Koffiefontein. Petra continues to
strive for a zero harm environment and has increased its focus on
identifying and mitigating safety risks through behaviour-based
intervention programmes.
- Cullinan Mine ROM grade reduced to 31.2cpht and is expected to
be between 30cpht and 32cpht for the full year. As announced
previously, this is attributable to the C-Cut cave maturity as the
cave progresses from SW to NE. From March 2022, the C-Cut experienced early ingress
of waste from the overlying depleted mining blocks. The change in
ore makeup (lower grade and higher density) as a result of the cave
progression also resulted in processing challenges due to the high
process yields, causing a reduction in plant capacity to process
tailings treatment.
Ingress of overlying waste into the extraction draw points is a
natural process in block cave mining. However, the onset and rate
of the observed waste ingress occurred earlier and much more
rapidly than predicted by the depletion model provided by an
independent external expert. The C-Cut depletion model has been
recalibrated by the independent external expert and model
parameters adjusted to obtain alignment between the modelled and
observed waste ingress. Once the ingress of waste commences,
dilution of the ore is unavoidable and will increase as the cave
maturity progresses. The impact of the change in the ore makeup on
treatment capacity has, however, been largely negated with changes
made in the dense media separation plant.
Several mitigating action plans to reduce the loss in carats are
being considered and evaluated. Tailings treatment has been
optimised but, in isolation, is not sufficient to address the
extent of the carat loss associated with waste ingress in the
C-Cut. Other mitigation action plans include the re-opening of
Tunnels 36 and 41, which have already commenced, and the
establishment of two new tunnels, Tunnels 46 and 50 (C-Cut
extension), which are being evaluated. The re-opening of Tunnels 36
and 41 and the establishment of Tunnels 46 and 50 are expected to
provide additional volume from FY 2025 onwards. Early development
spend has been approved for Tunnels 46 and 50 and the additional
production from these two tunnels is expected to more than offset
the impact of lower grades in FY 2023 and FY 2024. Production from
the CC1E capital expansion project will contribute meaningfully
from FY 2025 onwards and is expected to see grades move back
towards 40cpht.
As a consequence of the continued lower grades being
experienced, production guidance for the full year and for FY 2024,
which was expected to be towards the lower end of guidance, is now
expected to fall below previously guided ranges with an annual
negative impact of around 200 to 250 kcts for both FY 2023 and FY
2024, with FY 2025 guidance remaining unchanged at 1.7 to 1.9
Mct.
- Finsch mined and treated 1.1Mt in H1 FY 2023. Finsch
experienced further production challenges in Q2 FY 2023, resulting
in tonnes hoisted and treated being significantly below target in
the first half. These challenges included low machine availability
owing to an aging underground fleet, challenges with the
centralised blasting system and emulsion quality and an extended
rock-winder breakdown. In December
2022, production improved on the back of new underground
equipment being delivered and commissioned following the previously
announced increased lead-times, coupled with positive changes to
the blasting process. These blasting process changes, together with
the introduction of new long hole drill rigs and Load Haul Dump
(LHDs) loaders as well as the appointment of individuals to a
number of key positions, supports the expected improvement in
production in the second half.
The lower production in the first half is expected to result in
full year production falling short of earlier guidance by some
75kcts. Guidance for FY 2024 onwards remains unchanged.
- Production at Williamson was trending positively against
guidance until the TSF breach in November
2022. Following the incident, all production activities were
suspended, with no further production expected for FY 2023. On-mine
activities are focused on remedial steps and critical maintenance
to allow for a smooth start-up once the TSF has been
recommissioned. A separate announcement will be released shortly by
the Company to provide an update on activities at Williamson since
the incident.
On 28 November 2022, the
Independent Grievance Mechanism (IGM) at Williamson became
operational with the commencement of the IGM’s pilot phase. A
detailed update, dated 30 November
2022, of the IGM work undertaken since July 2022, the Restorative Justice Projects that
are being put in place to provide sustainable benefits to the
communities located close to the mine and illegal incursions onto
the Williamson mine lease area during Q1 FY 2023 is set out
here:
Williamson-IGM-and-RJPs-November-Update-for-website-29-November-22.pdf
(petradiamonds.com)
- As previously announced, Petra has been exploring options for a
responsible exit at Koffiefontein as the mine approaches the end of
its mine plan and with the sales process announced in April 2022 having not resulted in a potential
buyer for the mine. The asset has been loss-making for several
years and low morale remains a risk to the mine’s safety
performance. A Section 189(3) notice was issued to all KDM
employees during November 2022
informing them of the economic realities of the mine and inviting
them to join a collaborative process to determine the optimal way
forward towards achieving the mine being placed on care and
maintenance. Operations were halted to ensure all assessed risks
were adequately mitigated for. Our consultations with the mine’s
key stakeholders remain constructive and we are optimistic that an
inclusive and responsible process towards mine closure will be
achieved. As a result, further production from Koffiefontein has
been removed from our updated guidance.
- Guidance – the following items are amended, with items not
shown being unchanged with reference to earlier guidance. Updated
cost and capital guidance, including actual results to December 2022, will be provided with the
Company’s interim results on 21 February
2023.
|
|
Original Guidance |
Restated Guidance |
|
Carats recovered |
3.3 – 3.6 Mcts
3.3 – 3.6 Mcts |
~2.8 Mcts
~3.0 – 3.3 Mcts |
Cullinan Mine |
Carats recovered
ROM grade |
1.61 – 1.79 Mcts
1.66 – 1.85 Mcts
36.5 – 38.5 cpht
36.7 – 38.8 cpht |
1.4 – 1.5 Mcts
1.45 – 1.55 Mcts
~30.8 cpht
~30.7 cpht |
|
Carats recovered |
1.28 – 1.39 Mcts |
1.15 – 1.25 Mcts |
|
Carats recovered |
319 – 358 kcts |
141 kcts |
|
Carats Recovered |
47 – 52 kcts
45 – 49 kcts
29 – 32 kcts |
6 kcts |
More detailed guidance is available on Petra’s website at
https://www.petradiamonds.com/investors/analysts/analyst-guidance/
Balance sheet further strengthened
through successful debt tender offer
- Balance Sheet as at 31 December
2022:
- Gross debt decreased to US$241.7
million (30 June 2022:
US$366.2 million) reflecting the
successful tender offer in September/October
2022 to repurchase second lien notes.
- Gross cash of US$146.6 million
(30 June 2022: US$288.2 million) and unrestricted cash of
US$130.4 million (30 June 2022: US$271.9
million) reflecting the repurchase of the Company’s loan
notes totalling US$145.0 million
during the period.
- Consolidated net debt of US$90.8
million (30 June 2022:
US$40.6 million) increased due partly
to timing of the Company’s tender cycles and resultant inventory
build during the period together with the previously announced
increase in capital expenditure for the expansion projects at the
Cullinan Mine and Finsch.
Outlook
Although the recent grade and dilution issues at the Cullinan
Mine are expected to impact production for the remainder of FY 2023
and FY 2024, the impact of this on the business is expected to be
more than offset from FY 2025. Production from Tunnels 46 and 50
are not included in Cullinan Mine’s current LOM plan and therefore
provide incremental tonnes and carats. At Finsch, the successful
commissioning of a new underground fleet and appointment of
individuals to a number of key positions are expected to lead to
improved production in H2 FY 2023. At Williamson, remedial steps
and critical maintenance are ongoing to allow for a smooth and safe
start-up once the TSF has been recommissioned, which is expected
from the beginning of FY 2024. Production at Koffiefontein will
remain halted while we continue to engage with our key stakeholders
to determine the optimal way forward in moving towards placing the
mine on care and maintenance as part of finalising a responsible
process towards mine closure.
The backdrop of structural changes to the supply and demand
fundamentals in the diamond market remains unchanged and we
anticipate it to remain supportive going forward. We are cautiously
optimistic that the resilience seen in the luxury goods market,
together with the easing of lockdown restrictions in China, will lead to a stabilisation of prices
in the early part of CY 2023.
This announcement includes inside information as defined in
Article 7 of the UK Market Abuse Regulation No. 596/2014 and is
being released on behalf of Petra by the Company Secretary.
INVESTOR WEBCASTS
Webcast presentation for institutional
investors and analysts
09:30am GMT tomorrow,
17 January 2023
Petra’s CEO, Richard Duffy, and
CFO, Jacques Breytenbach, will host
a webcast for institutional investors and analysts tomorrow to
discuss this trading update at 09:30
GMT.
Please register at:
https://www.investis-live.com/petra-diamonds/63c12fedaba36a0c0021ee6a/hyaie
Dial in details:
United
Kingdom
0800 640 6441
South
Africa
087 550
8441
United States
(Local) 1 646 664
1960
All other
locations
+44 20 3936 2999
09:30: Access
code: 723364
Press *1 to ask a question, *2 to
withdraw your question, or *0 for operator assistance.
Link for recording (available later in the day):
https://www.petradiamonds.com/investors/results-reports/
Investor Meet webcast at 14.30 GMT on
17 January 2023
Petra will also present the results on the Investor Meet Company
platform, predominantly aimed at retail investors. To join:
https://www.investormeetcompany.com/petra-diamonds-limited/register-investor
FURTHER INFORMATION
Please contact
Petra Diamonds,
London
Telephone: +44 207494 8203
Patrick Pittaway
investorrelations@petradiamonds.com
Julia Stone
Notes:
- The following definitions have been used in this
announcement:
- Exceptional Stones: diamonds with a valuation and selling
price of US$5m or more per
stone
- cpht: carats per hundred tonnes
- LTIs: lost time injuries
- LTIFR: lost time injury frequency rate, calculated as the
number of LTIs multiplied by 200,000 and divided by the number of
hours worked
- FY: financial year ending 30 June
- CY: calendar year ending 31 December
- H: half of the financial year
- ROM: run-of-mine (i.e. production from the primary
orebody)
- m: million
- Mt: million tonnes
- LHD: Load Haul Dump loaders
ABOUT PETRA DIAMONDS
Petra Diamonds is a leading independent diamond mining group and
a supplier of gem quality rough diamonds to the international
market. The Company’s portfolio incorporates interests in three
underground mines in South Africa
(Finsch, the Cullinan Mine and Koffiefontein) and one open pit mine
in Tanzania (Williamson).
Petra's strategy is to focus on value rather than volume
production by optimising recoveries from its high-quality asset
base in order to maximise their efficiency and profitability. The
Group has a significant resource base which supports the potential
for long-life operations.
Petra strives to conduct all operations according to the highest
ethical standards and only operates in countries which are members
of the Kimberley Process. The Company aims to generate tangible
value for each of its stakeholders, thereby contributing to the
socio-economic development of its host countries and supporting
long-term sustainable operations to the benefit of its employees,
partners and communities.
Petra is quoted with a premium listing on the Main Market of the
London Stock Exchange under the ticker 'PDL'. The Company’s loan
notes due in 2026 are listed on the Irish Stock Exchange and
admitted to trading on the Global Exchange Market. For more
information, visit www.petradiamonds.com.
Corporate and financial summary
31 December 2022
|
Unit |
As
at 31 December
2022 |
As at
30 September
2022 |
As at
30 June
2022 |
Cash at bank –
(including restricted amounts)¹ |
US$m |
146.6 |
154.0 |
288.2 |
Diamond debtors |
US$m |
4.3 |
4.2 |
37.4 |
Diamond
inventories2,3 |
US$m
Carats |
59.9
540,153 |
76.3
692,219 |
52.7
453,380 |
2026 US$336.7m loan
notes4 |
US$m |
241.7 |
235.8 |
366.2 |
Bank loans and
borrowings5 |
US$m |
— |
— |
— |
Consolidated Net
Debt6 |
US$m |
90.8 |
77.6 |
40.6 |
Bank facilities
undrawn and available5 |
US$m |
58.8 |
55.1 |
61.5 |
Note: The following exchange rates have
been used for this announcement: average for H1 FY 2023
US$1: ZAR17.32 (FY 2022: US$1: ZAR15.22);
closing rate as at 31 December 2022
US$1: ZAR17.00 (30 June
2022: US$1: ZAR16.27).
Notes:
- The Group’s cash balances comprise unrestricted balances of
US$130.4 million, and restricted
balances of US$16.2 million.
- Recorded at the lower of cost and net realisable
value.
- Diamond inventories includes the Williamson 71,654.45 carat
parcel of diamonds blocked for export during August 2017, with a carrying value of
US$12.5 million. Under the framework
agreement reached with the Government of Tanzania, as announced on 13 December 2021, the proceeds from the sale of
this parcel are required to be allocated to Williamson.
- The 2026 US$336.7 million loan
notes, originally issued following the capital restructuring (the
“Restructuring”) completed during March
2021, have a carrying value of US$241.7 million which represents the outstanding
principal amount of US$210.2 million
(after the early participation phase of the debt tender offers as
announced in September and October
2022) plus US$45.5 million of
accrued interest and net of unamortised transaction costs
capitalised of US$14.0
million.
- Bank loans and borrowings represent the Group’s ZAR1 billion revolving credit facility which
remains undrawn and available.
- Consolidated Net Debt is bank loans and borrowings plus loan
notes, less cash and diamond debtors.
Mine-by-mine tables:
Cullinan Mine – South Africa
|
Unit |
H1 FY 2023 |
H1 FY 2022 |
Q2 |
Q1 |
Total |
Q2 |
Q1 |
Total |
Sales |
|
|
|
|
|
|
|
Revenue |
US$m |
45.8 |
56.9 |
102.7 |
74.9 |
92.8 |
167.7 |
Diamonds sold |
Carats |
400,999 |
267,728 |
668,727 |
500,008 |
372,296 |
872,304 |
Average price per
carat |
US$ |
114 |
212 |
154 |
150 |
249 |
192 |
|
|
|
|
|
|
|
|
ROM
Production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
1,120,282 |
1,110,912 |
2,231,194 |
1,099,643 |
1,207,343 |
2,306,986 |
Diamonds produced |
Carats |
328,137 |
368,796 |
696,933 |
411,235 |
431,967 |
843,202 |
Grade1 |
Cpht |
29.3 |
33.2 |
31.2 |
37.4 |
35.8 |
36.5 |
|
|
|
|
|
|
|
|
Tailings
Production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
62,178 |
77,572 |
139,750 |
122,700 |
115,593 |
238,293 |
Diamonds produced |
Carats |
28,211 |
26,790 |
55,001 |
61,370 |
66,065 |
127,435 |
Grade1 |
Cpht |
45.4 |
34.5 |
39.4 |
50.0 |
57.2 |
53.5 |
|
|
|
|
|
|
|
|
Total
Production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
1,182,460 |
1,188,484 |
2,370,944 |
1 222,343 |
1,322,936 |
2,545,279 |
Diamonds produced |
Carats |
356,348 |
395,586 |
751,934 |
472,605 |
498,032 |
970,637 |
Note: 1. Petra 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 2023 |
H1 FY 2022 |
Q2 |
Q1 |
Total |
Q2 |
Q1 |
Total |
Sales |
|
|
|
|
|
|
|
Revenue |
US$m |
32.0 |
23.4 |
55.4 |
46.4 |
19.3 |
65.7 |
Diamonds sold |
Carats |
283,833 |
177,285 |
461,118 |
474,643 |
201,652 |
676,295 |
Average price per
carat |
US$ |
113 |
132 |
120 |
98 |
96 |
97 |
|
|
|
|
|
|
|
|
ROM
Production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
522,578 |
572,976 |
1,095,554 |
721,741 |
701,378 |
1,423,119 |
Diamonds produced |
Carats |
234,150 |
260,217 |
494,367 |
351,175 |
350,368 |
701,543 |
Grade1 |
Cpht |
44.8 |
45.4 |
45.1 |
48.7 |
50.0 |
49.3 |
|
|
|
|
|
|
|
|
Tailings
Production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
30,197 |
17,305 |
47,502 |
- |
- |
- |
Diamonds produced |
Carats |
3,402 |
3,160 |
6,562 |
- |
- |
- |
Grade1 |
Cpht |
11.3 |
18.3 |
13.8 |
- |
- |
- |
|
|
|
|
|
|
|
|
Total
Production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
552,775 |
590,281 |
1,143,056 |
721,741 |
701,378 |
1,423,119 |
Diamonds produced |
Carats |
237,552 |
263,377 |
500,929 |
351,175 |
350,368 |
701,543 |
Note: 1. Petra 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.
Williamson – Tanzania
|
Unit |
H1 FY 2023 |
H1 FY 2022 |
Q2 |
Q1 |
Total |
Q2 |
Q1 |
Total |
Sales |
|
|
|
|
|
|
|
Revenue |
US$m |
27.9 |
21.2 |
49.1 |
20.2 |
- |
20.2 |
Diamonds sold |
Carats |
103,829 |
71,295 |
175,124 |
26,611 |
- |
26,611 |
Average price per
carat |
US$ |
269 |
297 |
280 |
760 |
- |
760 |
|
|
|
|
|
|
|
|
ROM
Production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
520,017 |
1,309,359 |
1,829,376 |
988,978 |
365,138 |
1,354,116 |
Diamonds produced |
Carats |
39,766 |
100,750 |
140,516 |
68,453 |
14,420 |
82,873 |
Grade1 |
Cpht |
7.6 |
7.7 |
7.7 |
6.9 |
3.9 |
6.1 |
|
|
|
|
|
|
|
|
Total
Production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
520,017 |
1,309,359 |
1,829,376 |
988,978 |
365,138 |
1,354,116 |
Diamonds produced |
Carats |
39,766 |
100,750 |
140,516 |
68,453 |
14,420 |
82,873 |
Koffiefontein – South Africa
|
Unit |
H1 FY 2023 |
H1 FY 2023 |
Q2 |
Q1 |
Total |
Q2 |
Q1 |
Total |
Sales |
|
|
|
|
|
|
|
Revenue |
US$m |
2.2 |
1.4 |
3.6 |
8.3 |
2.8 |
11.1 |
Diamonds sold |
Carats |
4,228 |
3,703 |
7,931 |
16,400 |
4,238 |
20,638 |
Average price per
carat |
US$ |
508 |
383 |
450 |
505 |
664 |
538 |
|
|
|
|
|
|
|
|
ROM
Production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
36,099 |
48,770 |
84,869 |
125,126 |
192,184 |
317,310 |
Diamonds produced |
Carats |
2,862 |
3,253 |
6,115 |
8,779 |
13,592 |
22,371 |
Grade1 |
Cpht |
7.9 |
6.7 |
7.2 |
7.0 |
7.1 |
7.1 |
|
|
|
|
|
|
|
|
Tailings
Production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
- |
10,837 |
10,837 |
- |
- |
- |
Diamonds produced |
Carats |
- |
255 |
255 |
- |
- |
- |
Grade1 |
Cpht |
- |
2.4 |
2.4 |
- |
- |
- |
|
|
|
|
|
|
|
|
Total
Production |
|
|
|
|
|
|
|
Tonnes treated |
Tonnes |
36,099 |
59,607 |
95,706 |
125,126 |
192,184 |
317,310 |
Diamonds produced |
Carats |
2,862 |
3,508 |
6,370 |
8,779 |
13,592 |
22,371 |
Note: 1. Petra 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.