Petra Diamonds lowers production guidance

Petra Diamonds has lowered its production guidance for the current financial year, largely as a result of a revision of the mining scope at the Finsch site and the slightly lower production levels at the Williamson asset.

Petra Diamonds has lowered its production guidance for the current financial year, largely as a result of a revision of the mining scope at the Finsch site and the slightly lower production levels at the Williamson asset.

The firm said it remains on track to deliver five million carats per year by 2019, with a target of 2.85m carats in 2013, 30% higher than that delivered in the previous year. Disappointingly for investors, this is 0.25m carats lower than previously stated.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.