October 23, 2017 / 6:38 AM / a month ago

Petra Diamonds Q1 revenue falls 17 pct on consignment seizure

Oct 23 (Reuters) - Petra Diamonds Ltd reported a 17 percent fall in its first-quarter revenue after the government of Tanzania seized a consignment of diamonds from the company’s Williamson mine.

Revenue was $78.7 million in the quarter ended Sept. 30. Net debt rose to $613.8 million at Sept.30 from $555.3 million as of June 30.

Petra, which owns the Cullinan mine in South Africa, maintained its full-year production guidance of between 4.8 million carats and 5.0 million carats. (Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Subhranshu Sahu)

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