Annual Report and Accounts 2013
Petra Diamonds Limited 41
Overview
Performance Review
Strategic Review
Sustainability
Corporate Governance
Group Accounts
Performance in FY 2013
The Kimberley Underground operation comprises three kimberlite pipe
mines: Bultfontein and Dutoitspan (serviced by Joint Shaft and the Joint
Shaft plant) and Wesselton (serviced by the Wesselton Shaft and the
Wesselton plant) – both plant facilities were constructed and commissioned
by Petra’s in-house team, following takeover of the operation. A substantial
stockpile of ore at each plant was built up while the Joint Shaft and
Wesselton treatment plants were being constructed (estimated to be
ca. 500 Kt at Year end).
At Kimberley Underground, the ramp up of plant throughput continued
throughout the Year, with total carats produced increasing by 69% to
115,400 carats (FY 2012: 68,422 carats). The ROM grade of 14.3 cpht was
in line with guidance. Petra continues to be encouraged by the quality
of the Kimberley Underground production and during the Year a 95 carat
white diamond sold for US$1.1 million, being the first +US$1 million stone
from the operation under Petra management.
Costs
Unit costs of R265/t (FY 2012: R295/t) improved as expected due
to an increase in tonnages treated.
Development plan
Petra’s mine plan at Kimberley Underground is to take production to an
annual average steady state of ca. 130,000 ctpa by FY 2016.
Planned ROM tonnes mined for FY 2014 and FY 2015 are 800 Kt and 900 Kt
respectively, whereas planned plant throughput for FY 2014 and FY 2015 is
1.1 Mt (augmented by material from the stockpiles at surface). Underground
ROM tonnes are planned to ramp-up to in excess of 1 Mtpa by FY 2016,
by which point the stockpiles will have been depleted.
Capex
Capex of US$21.6 million for the Year (FY 2012: US$21.0 million) mainly related
to Wesselton plant and additional mining and engineering infrastructure.
Kimberley Underground
Comprising three mines – Bultfontein, Dutoitspan and Wesselton –
which were at the heart of South Africa’s early diamond rush in Kimberley.
DELIVERING OUR STRATEGY
OUTPUT
Ramp up of plant
throughput continued in FY 2013,
leading to considerably
higher production.
RECOVERIES
A 95.0ct white
diamond sold for US$1.1m, being first
+US$1m stone from operation under
Petra management.
EFFICIENCIES
Continuing to
increase throughput will further
improve unit costs per tonne.
REVENUE CONTRIBUTION
8%
AVERAGE PRICE PER CARAT
US$295
-8%
PRODUCTION (ROM ONLY)
carats
115,400
+69%
ROM GRADE
14.3 cpht
+23%
ON-MINE CASH COST PER TONNE
R265
1
-10%
REVENUE
US$33.4m
+69%
ROM TONNES
804,725
+37%
1. On-mine cash costs exclude costs assigned
to ROM stockpiles.
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