US EditionLower-Quality Diamonds Dent Petra Revenue
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Lower-Quality Diamonds Dent Petra Revenue
Revenue from sales of rough at Petra Diamonds fell in the third quarter as the miner presented a weaker product mix from its Cullinan mine in South Africa. Sales slipped 13% year-on-year to $41.6 million for the three months that ended March 31, the company said last week. The decline came even as sales volume increased 45% to 558,651 carats. The result stemmed in part from the lower-quality rough available at the specific area Petra mined at C…
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