Petra yields US$128.3 million during Tender 3 FY2022

Rough Market
16/12/2021 16:02

Petra Diamonds announced the results of Tender cycle 3 of FY 2022. The company sold 885,136 carats for a total of US$ 128.3 million. The tender cycle included a 295.8 carat white stone from the Cullinan mine, which was sold for US$ 13.9 million, and the first parcel sold on behalf of Williamson Diamonds Limited since they restarted operations.

The Williamson parcel totaled 26,611 carats, which were sold for a total of US$ 6.4 million, marking an average price of US$ 241 per carat. The parcel also included a 32.32 carat exceptional pink diamond, which was sold for US$ 13.8 million.

Richard Duffy, Chief Executive of Petra, commented: “These strong sales results are further evidence of the robust health of the diamond pipeline. The rough market is currently being driven by strong sales of polished diamonds and increased demand from the manufacturing centers, which in turn reflects positive end consumer markets, particularly in the run-up to the festive selling season. Demand at our most recent tender cycle appeared to span across the entire spectrum of rough assortments and sizes, and reflects the real shortages of quality goods further to the recent contraction of global rough supply.”