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 sold $79.3m of rough this month, after cancelling its last tender because of weak demand. The UK-based miner today said it sold a total of 696,000 carats, including 75,900 carats that were unsold at its May tender, and the 380,000 carats that would have been sold at the cancelled tender in June. Sales in […]

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Petra Diamonds commented on the release of its share price performance for the financial year of 2019, saying it delivered “solid set of operational results for 2019,” with improved safety, a production of 3.87 million carats – in line with guidance – and lower capital expenditure of $81.7 million, down from US$129.6 million in 2018 […]

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