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Petra Names New Chairman
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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....
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Mining
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Dec 17, 2019
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Rapaport News
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Petra’s South African Operations Back on Track
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Operations at Petra Diamonds’ South African mines haveresumed after the local electricity provider lifted restrictions on power usage. “The company’s mining operations in South Africa are…nowoperating at normal load levels,” the miner said Thursday....
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Mining
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Dec 12, 2019
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Rapaport News
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Petra Forced to Halt Production in South Africa
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Petra Diamonds has had to put operations on hold at itsthree South African mines, due to a restriction on power usage enforced by the local electricity provider. Eskom has told the miner to limit its power usage to “essential...
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Mining
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Dec 10, 2019
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Rapaport News
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Petra Sells 20ct. Blue Diamond for $15M
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Petra Diamonds sold a 20-carat blue diamond from itsCullinan mine in South Africa for just under $15 million. “We are very pleased with this result, which is in line withour expectations and confirms the...
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Mining
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Nov 17, 2019
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Rapaport News
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Petra Launches Artisanal Mining at South Africa Site
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Petra Diamonds has launched a small-scale mining initiativeat its Koffiefontein deposit that will provide work for the local South Africancommunity. The miner will give some of its tailings — ore thathas already been...
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Mining
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Oct 31, 2019
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Rapaport News
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Weak Prices Dent Petra Revenue
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Petra Diamonds’ revenue fell in the first fiscal quarteramid a drop in the average price and a weaker product mix at three of itsmines. Revenue dropped 23% year on year to $61.6 million for thethree months ending September...
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Mining
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Oct 23, 2019
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Rapaport News
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Cullinan Blue Could Fetch $15M, Analysts Say
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Petra Diamonds will offer a 20.08-carat blue diamond at aspecial tender in Johannesburg next month, with analysts predicting the rough couldattract $15 million.The miner recovered the type IIb, “exceptional” gem-qualitystone at its Cullinan deposit...
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Rough Markets
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Oct 07, 2019
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Rapaport News
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Petra Recovers 20ct. Blue Diamond
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Petra Diamonds has unearthed a blue diamond weighing 20.08 carats atits Cullinan mine in South Africa, it said Monday. The type IIb stone comes from the same mine that producedthe 3,106-carat Cullinan diamond...
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Mining
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Sep 24, 2019
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Rapaport News
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Petra’s Loss Widens in Weak Market
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Shares in Petra Diamonds slipped 7% in early trading Mondayafter the miner reported its loss had broadened due to a devaluation of itsfour deposits. The company reported a net loss of $258.1 million for theperiod ending June 30,...
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Mining
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Sep 16, 2019
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Rapaport News
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Petra to Reduce Production as Prices Slip
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Shares in Petra Diamonds slipped 6% in early trading Monday after the minerreported it would lower its production for fiscal 2020. The company expects to produce about 3.8 million carats inthe financial year ending June...
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Mining
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Jul 22, 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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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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