Lucapa Diamond and Petra Diamonds provided a glimmer of hope for the precious gemstones market on Tuesday by posting stronger revenues and production figures, signalling a potential recovery in the depressed diamond market.This growth was also attributed to the company’s access to higher-grade mining blocks, a result of strategic river diversions aimed at mitigating the impact of flooding at the Lulo operation in Angola.
“We are aiming for a strong finish to the year,” Selby said, noting that the company sold a 176-carat diamond for $3 million, further boosting results., with production rising by 7% to 679,625 carats for the quarter ended September 30. The increase was driven by higher grades at the company’s flagship Cullinan mine in South Africa and its Williamson mine in Tanzania.