Annual Report and Accounts 2011

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Fissure Mines: (Helam, Sedibeng, Star)


At a Glance
Fissure Mines:

Helam and Sedibeng put in a strong performance for the Period, with revenue for the Fissures unit as a whole up 62% to US$21.8 million and overall production up 18% to 87,488 carats. The average value per carat achieved also increased 32% to US$244.



Diamonds sold

89,491 carats

Average price per carat


For FY 2012, Petra expects a similar level of combined production across the fissure portfolio to FY 2011.

At Star, where operations are challenging, a disappointing performance was recorded for the year, as reflected in the impairment charge noted in the Financial Review.

Unit costs remained flat despite cost pressures specifically relating to electricity and labour. The majority of the US$5.2 million capex was spent on continuing underground development across the fissure mines, including a head gear installation at Sedibeng's Dancarl shaft.

Fissure mines

FY 2011 – gross numbers

  Unit FY 2011 FY 2010 Variance
Revenue US$m 21.8 13.5 +62%
Diamonds sold carats 89,491 72,629 +23%
Average price per carat US$ 244 185 +32%
ROM production      
Tonnes treated tonnes 183,506 168,840 +9%
Grade cpht 45.7 42.0 +9%
Diamonds recovered carats 83,876 70,950 +18%
Tailings production      
Tonnes treated tonnes 52,389 30,640 +71%
Grade cpht 6.9 10.7 -36%
Diamonds recovered carats 3,612 3,282 +10%
Total production      
Tonnes treated tonnes 235,895 199,480 +18%
Diamonds recovered carats 87,488 74,232 +18%
On-mine cost per tonne ZAR 684 669 +2%
Total capex US$m 5.21 2.5 n/a

1. Capex for the fissure mines was US$5.2 million; a further US$11.0 million capex spend was incurred in respect of the Helam projects
    manufacturing facility for equipment under construction that had not yet been invoiced to the respective Petra Group operation.