Petra Diamonds production surges, prices rise

Africa-focused Petra Diamonds' quarterly production more than doubled as output from its Finsch mine in South Africa was taken into account for the first time, and the miner said prices for rough diamonds rose. Petra Diamonds, which operates...

Petra Diamonds posts H1 loss, sees prices strengthening

LSE-listed Petra Diamonds posted a net loss of $26.7-million for the first half of its 2012 financial year on the back of foreign exchange losses of $35.7-million, the miner reported on Tuesday. The loss compares with profit of $24.5-million in...

Finsch mine, South Africa

A De Beers-owned mine, situated in the Northern Cape

Finsch to help Petra double output in 2012

With production up by 64% to 935 553 ct for the six months ended December 31, LSE-listed Petra Diamonds on Wednesday said it was on track to achieve two-million carats output during 2012. In its six-month trading update, the miner said the...

Company Announcement: New Debt Facilities

Petra Diamonds Limited announces that its wholly owned subsidiary Afropean Diamonds (Pty) Limited has entered into an agreement with Rand Merchant Bank with regards to new debt facilities of ZAR400 million, secured on the assets of Afropean in...

Petra Diamonds to move to London main market in Dec

Africa-focused miner Petra Diamonds on Thursday said it intended to move to the main board of the LSE next month. Petra said it would start trading on the main market on December 8, at which time it would cancel its Aim listing.

De Beers sales surge to record on robust Asian, US demand

The world’s biggest diamond miner De Beers on Tuesday reported its highest-ever sales of rough diamonds for the first half of the year, as robust demand in the US, China and India powered price growth. Sales were 33% higher at $3.5-billion in...

Union threatens to down tools at De Beers’ SA operations

South Africa's National Union of Mineworkers (NUM), on Friday threatened to embark on industrial action across all local operations of diamond giant De Beers. This comes after the miner served workers with section 189 notices to inform them that...

Retrenchments 
despite improving diamond market

South African trade union Solidarity says that diamond producer De Beers Consolidated Mines (DBCM) plans to retrench 40% of its workers at its Northern Cape Finsch mine, citing the weakening price of diamonds as one of the reasons.

SA union vows to fight retrenchments at De Beers mine

outh Africa's powerful National Union of Mineworkers (NUM) said on Wednesday that it would take diamond giant De Beers "to the cleaners" over impending retrenchments at its Finsch mine, in the Northern Cape province. This comes after the miner...

Tawana still looking for JV partners to develop SA, Botswana projects

JSE-listed diamond explorer Tawana Resources on Friday reported that it was still searching for joint-venture (JV) partners to assist in developing two of its South African and its Botswana projects. One of the projects is the Kareevlei...

Wray Carvelas