[miningmx.com] — AIM-listed Petra Diamonds said on Wednesday it remains on track to meet its target for higher full-year production despite a 5.3% decline in first half output.
Production for the six months to end-December fell to 582,102 carats, mainly due to a temporary planned shutdown at the Williamson mine in Tanzania, and it expects to achieve its target of about 1.3 million carats for the 2011 financial year.
Group mine revenue jumped 87% to $90.0m, helped by increased production from the Cullinan, Kimberley and Koffiefontein mines and stronger rough diamond prices.
“The strong growth in revenue for the period reflects the strength of the market and the positive rough diamond price environment, which is underpinned by continued growth in demand from emerging markets, particularly China and India, as well as by the steady recovery in the US market,” said CEO Johan Dippenaar.
