Petra Diamonds experiences Covid-19-influenced drop in diamond sales

Driven by significantly reduced diamond prices, especially in its March tender, diamond miner Petra Diamonds reports a drop in revenue of 32% year-on-year to $91.3-million for the third quarter of the financial year ended March 31.

Reflecting stable market conditions before the Covid-19 pandemic took hold internationally, the company notes that its February tender saw pricing, on a like-for-like basis, up marginally in comparison to prices achieved in the first half of the 2020 financial year.