In Petra Diamonds' final diamond tender of fiscal 2024, held in February, sales reached $47.8 million from 428,860 carats, averaging $112 per carat.
Though total sales dipped 30% compared to December, prices actually rose 4% on a like-for-like basis across most size categories, suggesting a potential market recovery. This improvement was further boosted by a better product mix, with higher-value stones from the Williamson and Finsch mines driving revenue.
Excluded from these results is a rare 14.76-carat blue diamond discovered at the Cullinan mine, which Petra plans to sell separately later this month. For the entire fiscal year, sales decreased 15% to $235.6 million, while the average price per carat fell 28% to $113 despite a 17% increase in sales volume to 2.1 million carats. Compared to the previous year's equivalent tenders, like-for-like prices saw a 9% decline.
