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Petra warns on revenue

Petra Diamonds has warned revenue in the financial year to June 2015 would be lower than expected mainly due to underground production at its flagship mines at Finsch and Cullinan in South Africa being sourced from mature and diluted mining areas.

That meant variability in both the achieved ROM grade as well as in product mix “due to the finer nature of the ore at this late stage in the life cycles of the old block caves”.