RapNet


Rapaport News

 

Search Results

   

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail
The new Cullinan plan
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
Rough diamonds
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 Cullinan 150
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 mine 150
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
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
Petra
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
Petra Cullinan mine plant
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
Petra Finsch mine
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
Miners coronavirus
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
Petra
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
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
Peter Hill Petra 150
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
Petra
Petra’s South African Operations Back on Track
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....
Mining Dec 12, 2019 Rapaport News
Petra
Petra Forced to Halt Production in South Africa
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...
Mining Dec 10, 2019 Rapaport News
Petra Cullinan blue 150
Petra Sells 20ct. Blue Diamond for $15M
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...
Mining Nov 17, 2019 Rapaport News
Petra
Petra Launches Artisanal Mining at South Africa Site
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...
Mining Oct 31, 2019 Rapaport News
Petra
Weak Prices Dent Petra Revenue
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...
Mining Oct 23, 2019 Rapaport News
Petra 20.08ct blue
Cullinan Blue Could Fetch $15M, Analysts Say
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...
Rough Markets Oct 07, 2019 Rapaport News
Petra Diamonds
Petra Recovers 20ct. Blue Diamond
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...
Mining Sep 24, 2019 Rapaport News
Petra
Petra’s Loss Widens in Weak Market
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,...
Mining Sep 16, 2019 Rapaport News
Previous 1 Next
Show articles per page




Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us