Petra Diamonds revenue slips as demand wanes in Hong Kong and China
27 January 2020 - 19:06
Bengaluru — Petra Diamonds’ first-half revenue fell 6%, dented by lower prices as the diamond industry grappled with soft demand from China and Hong Kong, but the African miner said it would meet or exceed its annual production target.
The industry has been facing slowing demand due to anti-government protests in Hong Kong and the bruising trade dispute between China and the US, while some analysts blame it on laboratory-grown diamonds and an oversupply of smaller rough diamond stones...
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