Annual Report and Accounts 2013
Petra Diamonds Limited 21
Overview
Performance Review
Strategic Review
Sustainability
Corporate Governance
Group Accounts
REVENUE
US$ million
402.7
+27%
12
316.9
11
220.6
10
177.7
09
94.4
13
402.7
ROUGH DIAMOND PRODUCTION
Million carats
2.67
+21%
12
2.2
11
1.1
10
1.2
09
1.1
13
2.67
1
Increase output
KEYS TO ACHIEVING
$
Meeting tonnage targets in line
with business plan and aligning
plants to optimise recoveries
$
Management of ROM grades
at Finsch and Cullinan until
expansion programmes open
up new areas and create access
to undiluted ore
$
Successful roll out of expansion
programmes, particularly
at Finsch and Cullinan
FY 2013 ACHIEVEMENTS
$
Group production +21%
to 2.67 Mcts
$
Finsch performed strongly
in its first full year under
Petra management
$
Williamson achieved planned
production levels further to
restarting production in Q4
FY 2012
FOCUS FOR FY 2014
$
Group production +12%
to ca. 3.0 Mcts
$
Total tonnes treated +18%
to ca. 17.5 Mt
$
Continuing focus on the roll-out
of key expansion programmes
KEY PERFORMANCE INDICATORS
Description
Petra’s growth path is expected to see
production rising every year to FY 2019,
which is in turn expected (dependent
on rough diamond prices) to deliver
commensurate growth in revenue.
Description
Petra has set out a clear and
transparent growth profile, with
production expected to rise year
on year to reach ca. 5 million carats
by FY 2019.
Performance for the Year
FY 2013 production increased 21% to
2.67 million carats. The increase was
mainly due to Finsch’s contribution
for a full 12 month period and
Williamson successfully achieving
planned levels of production
following the commissioning of its
rebuilt plant at the end of FY 2012.
Performance for the Year
Revenue grew 27% to US$402.7 million,
primarily due to increased volumes
coupled with the sale of the 25.5 carat
blue diamond from Cullinan for
US$16.9 million in May 2013.
Risk management
Petra takes great care to set realistic
operational targets, based on detailed
mine production planning. Production
performance throughout the year is
monitored closely and if an operation
falls behind, remedial steps are taken
to address the lost production.
Risk management
The key factors affecting revenue
growth are delivery on production
targets, which can be managed by the
Group, and diamond prices, which are
outside of the Group’s control. Petra
sells its diamonds via competitive
tender, which is a fair and well proven
method of price discovery.
1...,13,14,15,16,17,18,19,20,21,22 24,25,26,27,28,29,30,31,32,33,...142