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Petra Diamonds Q1 production jumps 30 percent
October 24, 2016 / 6:35 AM / a year ago

Petra Diamonds Q1 production jumps 30 percent

Oct 24 (Reuters) - Diamond miner Petra Diamonds Ltd reported a 30 percent rise in first-quarter production, boosted by strong output at its Cullinan mine in South Africa.

* Petra, which owns the Finsch, Cullinan and Kimberley mines, said production rose to 1.1 million carats for the three months ended Sept. 30 from 842,796 carats a year earlier.

* Quarterly production at Cullinan rose 44 percent to 208,974 carats.

* Petra also said it sold 745,447 carats in the quarter, resulting in revenue of $94.7 million. It did not report revenue in the year-earlier quarter as it held no diamond tenders. (Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Sunil Nair)

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