Petra Diamonds year-to-date sales and volumes down
By Josh White
Date: Monday 09 Jun 2025
(Sharecast News) - Petra Diamonds reported sales of $53m from its combined fifth and sixth tenders of the 2025 financial year on Monday, following its earlier decision to postpone Cullinan Mine goods in April.
A total of 613,682 carats were sold across the two tenders at an average price of $86 per carat, with sales volumes up 29% and revenue up 34% compared to the fourth tender.
That took year-to-date sales revenue to $239m from 2.39 million carats, down from $329 million in the equivalent period last year.
The London-listed firm said the total included $14m from 84,479 carats sold from the Williamson Mine, marking the final sale from that asset under Petra's ownership following its disposal in May.
Petra noted that like-for-like rough diamond prices rose 3% versus the previous tender but remained 16% lower year-on-year, primarily due to weaker pricing for smaller stones.
Prices at Cullinan fell to $72 per carat due to an unfavourable product mix, while Finsch saw a 7% price improvement to $75 per carat as new ore zones came online.
Given continued market volatility, Petra said it would no longer publish results on a tender-by-tender basis, and instead intended to report diamond sales alongside quarterly operational updates.
At 1301 BST, shares in Petra Diamonds were up 0.62% at 260.6p.
Reporting by Josh White for Sharecast.com.
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