Stargems has acquired Petra’s mothballed Koffiefontein mine, in South Africa, for a “nominal cash consideration”. The loss-making deposit, which Petra bought from De Beers in 2007, has been on care and maintenance since November 2022. Petra said Dubai-based Stargems would take on the mine’s environmental rehabilitation liabilities and care and maintenance costs, and make a […]

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Petra reported sharp drops in both revenue and prices at its May tender, and said it held back parcels of over 75,000 carats because of weak demand. The UK-based miner is currently operating only two of its four mines. The Williamson deposit, in Tanzania, remains out of action after the breach of a tailings dam […]

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Petra Diamonds today reported a 20 per cent dip in sales for the first half of fiscal 2023 and a net loss of $17.6m. The London-based miner made a profit of $49.1m during the same period in 2022. Earlier this month it said it was open to merger and acquisition offers. It blamed the decrease […]

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Announcing its preliminary (unaudited) results for the year ended June 30, 2019 (FY 2019), Petra Diamonds Limited reported that its revenue of US$ 463.6 million, had decreased by 6% as compared to a revenue of US$ 495.3 million earned in FY 2018; adding that “diamond prices realised by Petra (were) down ca. 5% in line […]

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