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Independent Miner Finds 512ct. Rough in Tanzania
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A Tanzanian small-scale miner has recovered a 512-caratdiamond, the largest ever found in the country, according to a Twitter post by a government official.The stone, which sold for $1.4 million, was found earlierthis month by Joseph Temba in the...
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Mining
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May 29, 2019
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Rapaport News
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Petra Sells 425ct. Diamond for $15M
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Petra Diamonds sold a 425-carat white diamond from itsCullinan mine in South Africa for just under $15 million, it said Tuesday. “This is a significant sale for Petra Diamonds and anendorsement of the quality not only...
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Mining
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May 14, 2019
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Rapaport News
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Cullinan Yields 210ct. Rough
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Petra Diamonds has unearthed a white diamond weighing 209.9carats at its Cullinan mine in South Africa. The D-color, type II, gem-quality stone is the fourth over100 carats the miner has recovered this year, and...
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Mining
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Apr 21, 2019
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Rapaport News
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Troubles at Finsch Mine Hit Petra Output
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Production at Petra Diamonds fell in the third fiscalquarter due to operational challenges at its Finsch mine in South Africa, it said Monday. Output for the three months ending March 31 dropped 7% to924,228 carats. Production at Finsch plunged...
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Mining
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Apr 15, 2019
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Rapaport News
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Petra Recovers 425ct. Diamond
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Petra Diamonds has unearthed a 425.10-carat white diamond atits Cullinan mine in South Africa, it said Friday. The D-color, type II, gem-quality stone comes from the samemine that produced the 3,106-carat Cullinan diamond...
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Mining
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Mar 31, 2019
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Rapaport News
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Petra Unearths 101ct. Rough at Cullinan
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Petra Diamonds recovered two gem-quality rough stones fromits Cullinan mine in South Africa Friday. The 100.83-carat, D-color, type IIstone and another 6.12-carat, blue, type II diamond will be included in the company’supcoming tender later...
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Mining
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Mar 10, 2019
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Rapaport News
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Petra Names New CEO to Drive Turnaround
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Petra Diamonds has appointed mining veteran Richard Duffy as its new CEO in the hope he will return the company to positive cash flow and lower debt.“[Duffy] brings with him an impressive depth of globalmining experience,...
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Mining
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Feb 18, 2019
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Rapaport News
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Price Drop at Cullinan Dents Petra
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Petra Diamonds’ shares fell more than 15% in early trading Monday after theminer reported a significant slide in rough-diamond prices at its flagshipCullinan asset. The average price plunged 31% to $96 per carat at the miner’sSouth...
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Mining
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Jan 28, 2019
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Rapaport News
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Petra Adds Ex-De Beers Exec to Board
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Petra Diamonds has appointed former De Beers executive VardaShine as a non-executive director in line with a plan to refresh its leadership,the miner said Monday. Shine was CEO of the Diamond Trading Company — now DeBeers Global Sightholder...
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Mining
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Oct 29, 2018
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Rapaport News
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Higher-Value Stones Lift Petra Revenue
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Petra Diamonds’ revenue jumped in the first fiscal quarter dueto demand for higher-quality goods. Revenue surged 22% year on year to $80.2 million for thethree months ending September 30, the miner reported Monday....
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Mining
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Oct 24, 2018
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Rapaport News
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Petra Boss Steps Down Amid $203M Loss
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Petra Diamonds CEO Johan Dippenaar will leave the company afterit recorded a huge loss during the fiscal year, it said Monday. The company reported a net loss of $203.1 million for the periodending June...
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Mining
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Sep 17, 2018
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Rapaport News
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Kimberley Rough Goes on Sale in Antwerp
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Production from the Kimberley mining operations in SouthAfrica will come to Antwerp for tender following Petra Diamonds’ sale of theasset. Until now, Petra only offered the goods for sale in SouthAfrica. The company offloaded...
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Rough Markets
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Aug 29, 2018
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Rapaport News
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Botswana Diamonds Faces Asset Challenge
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A South African company is claiming rights to portions of Botswana Diamonds’ Mooikloof project. “Despite [Botswana Diamonds associate Vutomi] obtaining afully notarized and registered prospecting right on Mooikloof from the SouthAfrican Department of Mineral Resources [DMR],...
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Mining
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Aug 01, 2018
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Rapaport News
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Petra Drops After Weak Production Outlook
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Shares in Petra Diamonds slipped on Monday after the miner loweredits production forecast for fiscal 2019. The company expects to produce between 4.6 million and 4.8million carats in the fiscal year ending June 2019,...
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Mining
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Jul 23, 2018
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Rapaport News
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Petra Sells Kimberley Mine for $22M
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Petra Diamonds will offload its majority stake in theKimberley mine, claiming the deal will ensure a sustainable future for theproject and help the company focus on its core assets. Ekapa Mining has agreed...
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Mining
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Jul 05, 2018
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Rapaport News
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Petra to Raise $178M to Repay Debt
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Petra Diamonds plans to sell stock to shareholders in a bidto raise $178 million and pay off its debt, it said Thursday. The miner will issue 332.8 million new shares for $0.54 (GBP0.40) each, a steep...
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Mining
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May 24, 2018
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Rapaport News
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Price Rise Lifts Petra Rough Sales
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Petra Diamonds saw a jump in revenue in the third fiscal quarter amid a stronger rough market.Revenue surged 44% year on year to $172 million for the three months ending March 31, while salesvolume increased 28%...
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Mining
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Apr 24, 2018
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Rapaport News
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Petra Diamonds Posts Heavy Loss
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Petra Diamonds slumped to a significant loss in the first fiscalhalf as the South African rand strengthened against the dollar, reducing the value of two mines the company operates in the country. The net loss came...
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Mining
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Feb 19, 2018
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Rapaport News
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Diamond Seizure Dents Petra’s Sales
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Petra Diamonds’ sales fell in the first fiscal half afterthe Tanzanian government confiscated a parcel of rough stones from itsWilliamson mine. Authorities seized 71,654 carats destined for Antwerp inSeptember, claiming that Petra had...
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Mining
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Jan 29, 2018
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Rapaport News
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Five Takeaways from the Stock Market in 2017
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In a year of soaring stock prices, US retail shares largely underperformed in 2017 as consumers (and investors) abandoned traditional shopping channels in favor of e-commerce platforms. As a result, familiar names such as J.C. Penney, Macy’s and Signet Jewelers slipped...
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Retail
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Jan 01, 2018
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Joshua Freedman
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