Petra Diamonds makes $86.2m in second tender

Petra Diamonds made $86.2m (£56.9bn) from the sale of its latest diamond tender, which included the pink diamond from the Williamson mine in Tanzania, which went for $10.05m.

The company said all goods were sold, with the exception of around 3,200 carats with an estimated value of around $166,000.

On a like-for-like basis, pricing was flat compared to Petra’s first tender of full year 2016, although the company said the expected improvement in product mix has favourably impacted the average value per carat achieved for each of the company’s operations.

Petra said rough diamond prices remain around 9% lower for full year 2016 to date on a like-for-like basis in comparison to actual results for the fourth quarter of 2015.

However, the company said the impact on its financial results has been mitigated by the significant weakening of the South African rand over the period, as it fell from ZAR12.21/USD1 at the end of June to over ZAR15.00/USD1 on 10 December.

At 0825 GMT, Petra shares were down 0.1% to 65.50p.