that operations at its Cullinan and Finsch mines, in South Africa, and the resumption of production at the Williamson mine, in Tanzania, led to a jump in production for the first quarter of the 2024 financial year.
Petra kept production guidance for 2024 unchanged at 2.9 million – 3.2 million carats, assuming steady operations at Cullinan and Williamson mines. Petra said is confident on the positive effects that supply curbs by major producers and a two-month Indian diamond import moratorium will have in the market. It said these actions will stabilize the diamond sector, supporting prices as inventories decline.what would have been its sixth sale for the 2023 fiscal year due weak demand related to elevated inventory in the mid-stream sector — mostly cutters and polishers.