[miningmx.com] – PETRA Diamonds posted a 31% increase in production for the six months ended December and said economic growth gave grounds for optimism in the diamond market.
Production reached 1.64 million carats compared with 1.24 million carats in the corresponding period of the previous financial year. “There is a positive basis for restocking within the pipeline,” said Johan Dippenaar, CEO of Petra Diamonds of the diamond market.
“Petra therefore expects these firm market conditions to continue into the second half of its 2014 financial year and anticipates solid results from its second-half tenders,” he said. “Longer term, a positive outlook for the diamond market is supported by the continued economic recovery in the US and growth in demand from emerging markets.”
