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Petra Blues 150
Petra to Offer Collection of Blue Diamonds at Tender
Petra Diamonds plans to hold a special tender of five blue diamonds it recovered from the Cullinan mine in South Africa last month.The sale of the Letlapa Tala collection, which means “blue rock” in the northern Sotho...
Mining Oct 21, 2020 Rapaport News
Petra restructure 150
Petra Lenders Take Majority Control of Company
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...
Mining Oct 20, 2020 Leah Meirovich
Petra Finsch 150
Petra Fends Off Strike with Wage Agreement
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...
Mining Oct 07, 2020 Rapaport News
NUM 150
De Beers, Petra Workers Prepare to Strike
Workers at De Beers’ and Petra Diamonds’ operations in South Africa are planning to go on strike after the parties failed to reach an agreement in their respective wage talks.Members of the National Union of Mineworkers (NUM) will begin a “protected strike”...
Mining Oct 04, 2020 Rapaport News
Petra blue diamonds 150
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
Williamson
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
Rough diamond
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 Petra 424.89 carat and 209 carat
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
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
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