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Petra Diamonds' Q1 revenue up helped by inventory sales, prices

Petra Diamonds' first-quarter revenue climbed 33% year on year helped by inventory sales and a 21% increase in diamond prices since the start of the pandemic, the miner said on Tuesday.

JOHANNESBURG, Oct 27 (Reuters) - Petra Diamonds' first-quarter revenue climbed 33% year on year helped by inventory sales and a 21% increase in diamond prices since the start of the pandemic, the miner said on Tuesday.

Revenue for the quarter to Sept 30 was $82 million. Production fell 10% year on year to 974,346 carats as Petra's Williamson mine in Tanzania remained shut.

The miner kept production guidance for the full-year 2021 suspended.

(Reporting by Helen Reid; editing by Jason Neely)

((Helen.Reid@thomsonreuters.com; +27 66 156 5214;))

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