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

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;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.