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Petra Diamonds
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London-listed Petra Diamonds has placed its Finsch diamond mine in Kimberley under business rescue and issued a Section 189A retrenchment notice at the Cullinan diamond mine, putting about 1 800 livelihoods at risk. Business rescue practitioners Daniel Theodorus van Jaarsveld and Luke Bernard Saffy took custodianship of Finsch in June and suspended production activities pending a Finsch-specific business plan, while the National Union of Mineworkers warns that 689 workers at Finsch and 1 090 at Cullinan face uncertainty.
Weak diamond market and stronger rand force cost cutsCEO Vivek Gadodia says Petra faces an unprecedentedly weak diamond market, with April and May tenders yielding an average price of about $81/ct at Cullinan and $47/ct at Finsch, compounded by a sustained stronger rand. The company has stopped capital expenditure at Finsch, refocused efforts on high-value areas at Cullinan and is assessing all options, including operational cost cutting, with an updated business plan expected by the end of September.
Exceptional blue diamond offers revenue lifelinePetra sold a 41.82 ct Type IIb blue diamond recovered at Cullinan in December 2025 under an agreement that provides initial consideration and retains significant economic interest in the polished stone's profit, which could take about 12 months to materialise. The stone will be cut and polished in South Africa to support the local beneficiation sector.
Petra Diamonds Updates
Trade union the National Union of Mineworkers (NUM) has condemned the decision by London-listed Petra Diamonds to place the Finch diamond mine in Kimberley under business rescue and to issue a...
Business rescue practitioners (BRPs) Daniel Theodorus van Jaarsveld and Luke Bernard Saffy have taken over the custodianship of London-listed Petra Diamonds' Finsch mine, in South Africa, and will...
Amid continued weakness in the diamond market, London-listed Petra Diamonds has decided to place its Finsch mine, in South Africa, in business rescue in order to protect the overall business. CEO...
London-listed Petra Diamonds has embarked on an immediate cost and capital expenditure (capex) reduction assessment to preserve liquidity across the group and is considering suspending further...
Johannesburg- and London-listed integrated resource group Tharisa has appointed former Petra Diamonds CFO Jacques Breytenbach as CFO designate, with effect from May 1. He will succeed Michael...
London-listed Petra Diamonds sold 781 797 ct of diamonds during the quarter ended March 31 – the third quarter of its 2026 financial year. Revenue for the quarter was $68-million, compared with...
London-listed Petra Diamonds has reported revenue of $100-million for the six months ended December 31, 2025, compared with the revenue of $115-million reported for the six months ended December...
Wind turbine technology provider Nordex Energy South Africa (NESA) is supplying 33 wind turbines to the Zen and Bergriver wind projects, in the Western Cape, which will have a combined capacity of...
Precious and green metals mining company Sibanye-Stillwater has concluded a flexible renewable energy power purchase agreement (PPA) with energy trader Etana Energy, involving the supply of 220 MW...
The illustrious Cullinan diamond mine, flagship of London-listed Petra Diamonds, is not only famous for hosting the largest gem diamond but a flurry of reports is now affording sky-high status to...
The illustrious Cullinan diamond mine, flagship of London-listed Petra Diamonds, is not only famous for hosting the largest gem diamond but a flurry of reports is now affording sky-high status to...
London-listed Petra Diamonds has recovered a 41.82 ct Type IIb blue diamond of seemingly exceptional quality in terms of both its colour and clarity at the Cullinan mine, in South Africa. The...
South African energy trader Etana Energy has reported that it will purchase all of the renewable electricity generated by two new wind farms being built by global renewables group Acciona Energía...
London-listed Petra Diamonds has announced a series of board appointments following its AGM on November 27, including that of Vivek Gadodia and Juan Kemp as permanent joint CEOs of the company....
Balancing responsible mining with operational efficiency is a defining theme across Africa’s resource sector, and for diamond miner Petra Diamonds, that balance is central to long-term strategy,...
(Virtual Showroom) Leading drilling and exploration specialist Rosond is pleased to announce the appointment of Dr. Adwoa Boaduo as Group Head of Safety, effective November 2025. A seasoned...
London-listed Petra Diamonds, which owns and operates the Cullinan and Finsch mines, in South Africa, produced 609 336 ct of diamonds in the quarter ended September 30 – the first quarter of its...
Diamond producer Petra Diamonds has launched an £18.8-million rights issue as the final step in completing a long-term refinancing agreement that extends the company’s debt maturities by up to four...
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