|
|
|
Petra Recovers High-Quality Blue Diamonds
|
|
Petra Diamonds has unearthed five high-quality, blue, type IIb diamonds from its Cullinan mine in South Africa in the span of one week, it said Wednesday.The stones, which weigh 25.75, 21.25, 17.57, 11.42 and...
|
|
|
Mining
|
Sep 16, 2020
|
Rapaport News
|
|
|
|
|
|
Petra Faces Claims of Human-Rights Abuses
|
|
Petra Diamonds has received allegations of human-rights abuses at its Williamson mine in Tanzania, including claims of killings and on-site violence.Security guards at Williamson shot or seriously beat people at the mine, causing deaths and serious injuries,...
|
|
|
Mining
|
Sep 10, 2020
|
Rapaport News
|
|
|
|
|
|
Indian E-Tax ‘Doesn’t Apply to Rough Sales’
|
|
Rough trading does not incur India’s new e-commerce tax, the country’s Gem and Jewellery Export Promotion Council (GJEPC) confirmed after meeting with finance minister Nirmala Sitharaman.India introduced the equalization levy...
|
|
|
Financial-Legal
|
Aug 27, 2020
|
Rapaport News
|
|
|
|
|
|
Petra Diamonds Adds 2% Levy for Indian Clients
|
|
Petra Diamonds will charge Indian customers an additional 2% to cover a new e-commerce tax that might apply to the miner’s rough sales.India introduced the equalization levy on April 1, taxing all overseas e-commerce operators’ sales of goods...
|
|
|
Rough Markets
|
Aug 26, 2020
|
Joshua Freedman
|
|
|
|
|
|
Mining Sell-Off Highlights Sector’s Woes
|
|
Just as the sun emerged from behind the clouds and diamond demand began to recover from a glut in the manufacturing sector, the coronavirus pandemic hit. Its rapid spread forced many miners to shut down...
|
|
|
Mining
|
Aug 06, 2020
|
Leah Meirovich
|
|
|
|
|
|
Petra Revenue Falls to Nine-Year Low
|
|
Petra Diamonds’ full-year sales dropped to their lowest level in almost a decade as the coronavirus aggravated an already weak rough market.Revenue fell 36% to $295.8 million in the fiscal year ending June 30, reflecting sluggish rough...
|
|
|
Mining
|
Jul 26, 2020
|
Rapaport News
|
|
|
|
|
|
Petra Sells Botswana Business for $300K
|
|
Petra Diamonds has sold three exploration projects to Botswana Diamonds for $300,000, the mining companies announced Monday.The transaction includes Petra’s KX36 project, a kimberlite in Botswana the miner discovered in 2010, as well as two other...
|
|
|
Rough Markets
|
Jul 21, 2020
|
Rapaport News
|
|
|
|
|
|
Petra’s Tough Sales Pitch
|
|
The current plight of Petra Diamonds is a frustrating example of the impact Covid-19 has had on the diamond industry, highlighting the lack of readiness for such a downturn.As an important mid-tier diamond miner, the company has annual...
|
|
|
Mining
|
Jul 16, 2020
|
Avi Krawitz
|
|
|
|
|
|
Petra Seeks Buyer for Its Business
|
|
Petra Diamonds plans to sell the company as it struggles with mounting debt.The company owns the Cullinan, Finsch and Koffiefontein mines in South Africa. It also operates the Williamson deposit in Tanzania, which is currently on care and...
|
|
|
Mining
|
Jun 28, 2020
|
Rapaport News
|
|
|
|
|
|
Petra Mulls June Tender After Rough-Price Slump
|
|
Petra Diamonds is considering whether to hold a rough tender in June after a market slowdown prompted it to cancel its May sale.Prices fell 27% in March and April compared with February as the Covid-19 pandemic reduced business activity...
|
|
|
Mining
|
May 31, 2020
|
Rapaport News
|
|
|
|
|
|
Petra to Postpone Debt Repayment
|
|
Petra Diamonds plans to delay the next interest payment on its $650 million bond to preserve liquidity for business operations.The miner has spoken to its lenders about drawing on its revolving credit facility, it said Friday....
|
|
|
Mining
|
May 03, 2020
|
Rapaport News
|
|
|
|
|
|
Heavy Debt Looms over Mining Shutdown
|
|
A number of diamond-mining companies that have halted production during the COVID-19 crisis will find it difficult to resume operations amid their struggles with debt, analysts have predicted.The warning comes after several miners announced...
|
|
|
Mining
|
Apr 23, 2020
|
Leah Meirovich
|
|
|
|
|
|
Petra Sees Rough Prices Drop 27%
|
|
Rough prices slumped at Petra Diamonds’ March tenders as buyers sought discounts due to the slowdown in the market caused by the COVID-19 pandemic.Goods from Petra’s South African mines sold for 27% less than in February...
|
|
|
Mining
|
Apr 12, 2020
|
Rapaport News
|
|
|
|
|
|
Rough Prices Slide 24% at Petra Tender
|
|
Rough prices slumped at Petra Diamonds’ March tenders in South Africa and Antwerp as the severe slowdown in the market virtually wiped out demand.Goods from Petra’s South Africa mines sold for 24% less than...
|
|
|
Mining
|
Mar 29, 2020
|
Rapaport News
|
|
|
|
|
|
South Africa, Lesotho Mines Set for Shutdown
|
|
Petra Diamonds, Gem Diamonds, Firestone Diamonds and Lucapa Diamond Company are suspending operations at their mines in South Africa and Lesotho due to government measures to curb the spread of the coronavirus.South Africa has introduced...
|
|
|
Mining
|
Mar 25, 2020
|
Rapaport News
|
|
|
|
|
|
Production Continues as Miners Fight Virus Impact
|
|
Alrosa, Petra Diamonds and Lucara Diamond Corp. are among the companies putting special procedures in place in preparation for a possible coronavirus outbreak, while still continuing operations at their mines.Alrosa, which has not had...
|
|
|
Mining
|
Mar 19, 2020
|
Leah Meirovich
|
|
|
|
|
|
Challenging Market Weighs on Petra
|
|
Shares in Petra Diamonds slipped 16% in early trading Monday after the miner reported a net loss for the first fiscal half, and warned of operational problems that could affect annual production.The company reported...
|
|
|
Mining
|
Feb 17, 2020
|
Rapaport News
|
|
|
|
|
|
Petra Revenue Drops as Prices Weaken
|
|
Petra Diamonds’ shares fell 11% in early trading Monday after the miner reported a slide in revenue resulting from weak rough prices.Revenue fell 6% to $193.9 million in the first fiscal half ending December 31, while...
|
|
|
Mining
|
Jan 27, 2020
|
Rapaport News
|
|
|
|
|
|
Diamonds That Created a Buzz in 2019
|
|
It was another big year for big diamonds, with several stones that raked in big bucks, set records, or otherwise made headlines. These were the stones that caught our attention in 2019.Biggest money makers1....
|
|
|
Polished Markets
|
Dec 31, 2019
|
Leah Meirovich
|
|
|
|
|
|
Petra Names New Chairman
|
|
Petra Diamonds has appointed Peter Hill as non-executivechairman, succeeding company founder Adonis Pouroulis, who is stepping down,the company said Tuesday. Hill is currently non-executive chairman of geotechnicalcontractor Keller Group and of building-products company Volution Group....
|
|
|
Mining
|
Dec 17, 2019
|
Rapaport News
|
|
|
