Petra Diamonds expects up to 24 percent rise in 2017 production

Petra Diamonds Ltd said it expected production to rise up to 24.3 percent in 2017 from a year earlier and grow further to hit 5 million carats (mcts) in 2018, a year earlier than expected.

The diamond miner forecast production to rise to 4.4-4.6 mcts in the year ending June 30, 2017 from 3.7 mcts in the corresponding period a year earlier.

Higher volumes at its joint venture with Kimberley Ekapa Mining in South Africa was helping boost total production, the company said.