January 28, 2019 / 8:29 AM / 10 months ago

Petra Diamonds shares fall on lower diamond prices at flagship mine

Jan 28 (Reuters) - Shares in Petra Diamonds Ltd slumped as much as 10 percent as lower diamond prices at its flagship Cullinan mine overshadowed an increase in half-year revenue.

The miner, which has been trying cut its debt, said net debt increased to $557.2 million in six months ended Dec. 31 from $538.9 million at the end of September.

Petra Diamonds’ shares were 6.6 percent lower at 42 pence at 0823 GMT. (Reporting by Devika Syamnath in Bengaluru Editing by Saumyadeb Chakrabarty)

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