×
60 947
Fashion Jobs
BLOOMINGDALE'S
Registry Consultant, Full Time - Short Hills
Permanent · Millburn
MACY'S
Asset Protection Detective, Walnut Creek Broadway Plaza - Full Time
Permanent · Walnut Creek
MACY'S
Asset Protection Detective, Valley Fair - Full Time
Permanent · Santa Clara
MACY'S
Asset Protection Detective, Valencia Town Center - Full Time
Permanent · Santa Clarita
MACY'S
Asset Protection Detective, Pentagon City - Part Time
Permanent · Arlington
MACY'S
Asset Protection Detective, Deerbrook Mall - Full Time
Permanent · Humble
MACY'S
Asset Protection Detective, Orland Square - Part Time
Permanent · Orland Park
ROSS STORES
Senior Manager, Fixture Quality
Permanent · Dublin
OLD NAVY
District Manager - Colorado South
Permanent · Lakewood
OLD NAVY
General Manager - Shops at Stonewall
Permanent · Gainesville
NORDSTROM
Assistant General Manager - Ruscello - South Coast Plaza
Permanent · Costa Mesa
MACY'S
Asset Protection Detective, South Shore Plaza - Full Time
Permanent · Braintree
TJX COMPANIES
Product Manager
Permanent · Framingham
HOMEGOODS
70118-lp Detective
Permanent · Raleigh
TJ MAXX
District Loss Prevention Manager - Los Angeles, ca
Permanent · Culver City
TJX COMPANIES
Loss Prevention Investigator (National Task Force) - Deptford, nj
Permanent · Deptford
TJ MAXX
Warehouse Supervisor
Permanent · University Park
TJX COMPANIES
Product Manager
Permanent · Framingham
TJ MAXX
Loss Prevention Detective
Permanent · Somerville
TJ MAXX
tj Maxx Loss Prevention Detective Full-Time
Permanent · Denver
TJ MAXX
Loss Prevention Detective
Permanent · Boston
LULULEMON
Store Business Lead | Garden State Plaza
Permanent · Paramus
By
Reuters
Published
Jan 29, 2013
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Petra Diamonds cuts full-year production forecast

By
Reuters
Published
Jan 29, 2013

South Africa-focused miner Petra Diamonds lowered its full-year production target by about 7 percent, citing volatility of recovered grades, particularly at its Finsch and Cullinan mines.

Petra, which has seven operating mines in South Africa and one in Tanzania, said it to expects to produce about 2.65 million carats for the year ending June 30, down from its previous forecast of 2.85 million carats.

The company said the management of run-of-mine grades, which is the raw mined material as it is delivered and prior to any treatment, specifically at Finsch and Cullinan remained a challenge due to the mature nature and dilution of current mining areas.

Petra bought the Finsch mine - South Africa's second largest diamond operation by production - from De Beers in 2011.

"Management has demonstrated their ability at making these assets work," Investec Securities said in a note.

"Near term production appears a little disappointing but not major."

Production rose 31 percent to 1.25 million carats for the six months ended Dec. 31, mainly due to the inclusion of output from the Finsch mine. Petra produced about 2.2 million carats in fiscal 2012.

"We expect to be cash positive from our 2016 financial year, so we will look at paying dividends before 2019," Chief Executive Johan Dippenaar said.

Petra said its production target of 5 million carats per annum by fiscal 2019 remained on track.

CEO Dippenaar said the rough diamond market was flat for the majority of the first half. However, with the market firming and prices increasing slightly towards the end of the period, he was optimistic prices could pick up by year end.

Shares in the company were down about 5 percent at 114.17 pence at 0846 GMT on Tuesday morning on the London Stock Exchange.

(Reporting by Brenton Cordeiro in Bangalore and Sherilee Lakmidas in Johannesburg; Editing by Roshni Menon)

© Thomson Reuters 2022 All rights reserved.