Mining company Petra Diamonds scaled up its previous output forecast to 3.65 million carat from 3.3-3.4 million carat. The new estimate is due to the integration of Kimberley assets acquired at the beginning of the year from De Beers Consolidated Mines, through a consortium with Ekapa Mining.

The firm affirmed that talks regarding joint-venture with Ekapa, at Kimberley, are going well and joint-venture partnership might be effective during Q3 of 2016. It should result in significant synergies for Kimberley assets, flow increase and reduction of operation costs, thus extending the mine’s lifeline, thereby profiting both parties.

“We are pleased of our Kimberley joint-venture, given the potential for a durable long-term exploitation, which should benefit employees and local collectivities in the region,” said the firm’s chief executive, John Dippenaar.

Meanwhile, output for the first quarter, has surged 26% compared to the same period in 2015, reaching 995,905 carat due to Kimberley’s residues. 937,526 ct were sold. This represents a 13% sale increase compared to Q1 2015. Earnings for the quarter increased by 25% to $120.5 million. The company also said it produced 2.63 million ct over the past three quarters.

Besides Kimberley, Petra Diamonds’ assets in South Africa include the Finsch, Williamson, Koffiefontein, Cullinan and Helam mines.

Louis-Nino Kansoun