In a diamond market that is softer than anticipated, London-listed Petra Diamonds is moving ahead with confidence despite a downturn in its financial performance for the year ended June 30, 2023. While the industry faces short-term challenges, including ongoing global economic uncertainty, Petra CEO Richard Duffy maintains confidence in the medium to long-term outlook for the company amid a long-term structural deficit, the resilience of the high-end luxury goods segment and the rarity and finiteness of natural diamonds.