Petra Diamonds has officially exited the Williamson mine in Tanzania, completing the sale of its remaining stake as part of a broader strategy to navigate ongoing liquidity pressures. The London-listed miner had already divested nearly 50% of its interest in the mine to Pink Diamonds Investments Limited—a company affiliated with Taifa Mining, Williamson’s long-term technical […]

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Petra Diamonds sold fewer carats but achieved higher prices earlier this month at its fifth tender of FY 2024, boosted by the sale of an $8.2m blue diamond. The UK-based miner achieved an average $136 per carat on sales of 362,000 carats for $49m. Like-for-like figures for its fourth tender, in February, were $112 per […]

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Petra Diamonds said its fourth tender cycle of FY 2024 demonstrated robust growth in the market, selling 428,860 carats for $47.8 million, marking a 4.0% increase in like-for-like prices compared to Tender 3 FY 2024, which concluded in December 2023. Excluding a remarkable 14.76-carat blue gemstone recovered from the Cullinan Mine, which will be sold […]

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Petra Diamonds has appointed Varda Shine, Senior Independent Director, as Chair of Petra with effect from the conclusion of its Annual General Meeting in mid-November. The previous Chairman Peter Hill CBE retired from the Board and decided not to offer himself for re-election. Shine, who has been a Non-Executive Director of Petra since 2018, will […]

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Petra Diamonds says it expects production to fall this year, as it closes the loss-making Koffiefontein mine, in South Africa, and works towards re-opening the Williamson mine, in Tanzania, after the breach of a tailings dam. The UK-based miner is forecasting a total output of 2.75Mcts to 2.85Mcts for 2023, down from 3.35Mcts in 2022. […]

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Eight major diamond manufacturers have joined forces with the Natural Diamond Council (NDC) to promote the industry and educate consumers. Shree Ramkrishna Exports (SRK), Hari Krishna Exports Pvt. Ltd. (HK), Rosy Blue, Venus Jewel, Diarough, Dianco, Jewelex and Shivam Jewels have all agreed strategic partnerships. Diamond broker Bonas Group, the largest global independent diamond and […]

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Petra Diamonds today said it had postponed its June tender of 380,000 carats, in a further indication of a midstream slowdown. The UK-based miner reported a sharp drop in sales at its May tender – down 42 per cent on its March sale – and withdrew almost 76,000 predominantly high-value carats because of weak demand. […]

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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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Petra Diamonds has halted operations a wall of the tailings dam at its Williamson mine, in Tanzania, was breached. The UK-based miner said there were no confirmed deaths or injuries as a result of flooding from the eastern wall of the facility that stores mining waste. It’s less than two months since the tailings dam […]

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Petra Diamonds sold $128.3m of rough during its third tender cycle of its financial year, up almost a quarter year-on-year. It said like-for-like rough diamond prices had increased by about 16 per cent in the six months to June 2021. The UK-based miner said it had taken the decision to release sales results, in line […]

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