Reuters logo
Petra Diamonds profit falls, restarts Tanzania mine
September 18, 2017 / 6:23 AM / 2 months ago

Petra Diamonds profit falls, restarts Tanzania mine

Sept 18 (Reuters) - Petra Diamonds Ltd on Monday reported a 4.3 percent fall in full-year adjusted profit and said it resumed operations at Williamson mine in Tanzania after a four-day stoppage.

Petra Diamonds halted operations at the Tanzanian mine last week after the government seized a consignment and questioned some of its personnel as part of a crackdown on the mining sector.

The miner said its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell to $157.2 million for the twelve months to June 30, from $164.3 million in the year before due to delayed ramp-up of the expansion programmes and higher cash costs.

However, full-year revenue rose 10.7 percent to $477 million on higher production. (Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Gopakumar Warrier)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below