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Petra’s South African Operations Back on Track

Local electricity provider has lifted power-usage restrictions.
Dec 12, 2019 8:49 AM   By Rapaport News
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RAPAPORT... Operations at Petra Diamonds’ South African mines have resumed after the local electricity provider lifted restrictions on power usage.

“The company’s mining operations in South Africa are…now operating at normal load levels,” the miner said Thursday.

On Tuesday, Petra halted all production, hoisting and processing at its Cullinan, Finsch and Koffiefontein deposits after Eskom enforced blackouts across the country. Heavy rains have hit power stations and affected Eskom’s operations, prompting it to implement emergency measures.

Petra has not disclosed whether the two-day shutdown will have an impact on its production performance. Its stock rose 2% Thursday, following an 8% Tuesday.

Image: The Koffiefontein mine. (Petra Diamonds)
Tags: Cullinan, Eskom, Finsch, Koffiefontein, petra, Petra Diamonds, Rapaport News
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