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Market NewsNewsPetra shares rally on higher revenue, record output

Petra shares rally on higher revenue, record output

Shares in Petra Diamonds climbed almost 8% on Monday after the miner reported a significant revenue increase in its third-quarter driven by record production in the first three months of 2018, mining.com reported.

The South African diamond producer, owner of the iconic Cullinan mine, which produced the diamonds for the British crown jewels, said revenue for the quarter ended March 31 climbed 44% to $172 million, from $119 million a year earlier, said the mining.com report.

Petra Diamonds saw third-quarter revenue grow by 44% after it produced and sold more gems, the mining.com report.

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