Petra's Annual Revenue Rises by 44%

By John Jeffay / July 20, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Petra diamonds reports a year-on-year revenue leap of 44 per cent, driven by price hikes in the rough market and the resumption of work at its Williamson mine, in Tanzania.The UK-based miner said prospects remained positive, despite short to medium volatility because of the war in Ukraine and sanctions on Russian producers and COVID-19.Revenue for financial year ending 30 June 2022 was $584m, the company said in a trading update published yesterday.It was boosted by a 41.5 per cent rise in like-for-like rough prices, compared to the previous year, and re-opening of its Williamson mine, which was last year classified as an "asset held for sale" prompting speculation that it could be sold.In addition, Petra said it recovered and sold $89.1m of exceptional stones, including stones cut from 18.30ct Type II blue that sold for $3.5m (pictured).Richard Duffy, Petra CEO, said: "We continued to deliver safe, robust operating performance into the fourth quarter, recovering over 3.35Mcts for the year, in line with guidance."

Recent News

Most major producers and TSXV gold have major gains

November 09, 2026 / www.canadianminingreport.com

Gold stocks rebound as metal price jumps

November 09, 2026 / www.canadianminingreport.com

Big Gold Q3/26 strong results continue

November 02, 2026 / www.canadianminingreport.com

Gold stocks decline as major sector rotation continues

November 02, 2026 / www.canadianminingreport.com

Gold stocks slump in global sector rotation

October 26, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok