Feb 20 Petra Diamonds Ltd said it
expected a strong market for rough diamonds to continue and that
it would consider initiating a dividend from financial year
Petra, which has five producing mines in South Africa and
one in Tanzania, said adjusted core earnings jumped 157 percent
to $65.8 million for the six months ended Dec. 31. Revenue grew
19 percent to $185.5 million.
Carat sales were expected to be significantly higher in the
second half due to the seasonal timing of its tenders, the
Earlier this month Petra sold a 29.6 carat blue diamond
mined at its Cullinan mine in South Africa for $25.6 million to
U.S. luxury jeweller Cora International NY. The sale is expected
to boost its results for the second half of the year.
The diamond miner said first-half production jumped 31
percent to 1.635 million carats. Petra maintained its production
outlook of about 3 million carats for the year ended June 30,