Tough diamond parcels from the miner’s South African operations, initially earmarked on the market as a part of the primary tender of fiscal yr 2025, are actually deliberate to be provided within the second tender, anticipated to shut mid-October 2024.
Petra’s South African producing operations embody the Cullinan and Finsch mines.
“Our expectation is that provide self-discipline, along with the anticipated seasonally stronger demand as we head in direction of the festive season, will present some pricing help later within the calendar yr,” chief govt Richard Duffy stated within the assertion.
Petra had differed in June nearly all of what would have been its sixth sale for its 2024 fiscal yr to the August/September providing, or tender certainly one of fiscal 2025.
The corporate stated latest steps taken to enhance its monetary place have supplied it with the power to regulate the timing of its tenders primarily based on market situations.
Petra Diamonds plans to publish its preliminary outcomes for fiscal 2024 on September 12.