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Petra Rough Prices Rise to Pre-Pandemic Levels
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Rough-diamond prices at Petra Diamonds’ January tender rose 8% on a like-for-like basis, returning to levels seen before Covid-19, the miner said Tuesday.The tender included about 382,000 carats of rough mined during the first fiscal half...
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Mining
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Jan 19, 2021
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Rapaport News
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De Beers Buys Petra Blue Diamonds for $40M
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De Beers has purchased five rough blue diamonds from Petra Diamonds for more than $40 million in partnership with one of its sightholders.The miner bought the Letlapa Tala collection together with South African...
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Mining
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Nov 25, 2020
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Rapaport News
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Petra Lenders Take Majority Control of Company
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Petra Diamonds has called off its formal sales process, as its lenders have acquired majority ownership in the company in exchange for writing off sizeable debts.The groups reached the agreement following discussions on a long-term...
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Mining
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Oct 20, 2020
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Leah Meirovich
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Petra Fends Off Strike with Wage Agreement
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Petra Diamonds has resolved its contract issues with South African workers following a strike threat stemming from a failure to reach a pay agreement.The miner has signed a one-year deal with employees who are members...
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Mining
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Oct 07, 2020
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Rapaport News
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Petra Sells Botswana Business for $300K
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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...
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Rough Markets
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Jul 21, 2020
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Rapaport News
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Petra Sees Rough Prices Drop 27%
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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...
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Mining
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Apr 12, 2020
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Rapaport News
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Rough Prices Slide 24% at Petra Tender
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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...
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Mining
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Mar 29, 2020
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Rapaport News
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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 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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Petra Evacuates Cullinan After Wall Collapse
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Three million tonnes of material fell into the open pit of Petra Diamonds’ Cullinanmine in South Africa during a thunderstorm Saturday, the companysaid Wednesday. The collapse generated alarge plume of dust, which had “some effect...
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Mining
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Oct 30, 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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French Gem Group to Hold Diamond Symposium
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The French Association of Gemmology (AFG) will hold aconference in Paris on the state of the diamond industry, it said Monday.The 18th Paris Gemmological Rendez Vous — whichwill take place on September 9 — will cover topics including diamondmining,...
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Polished Markets
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Jul 23, 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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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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