Petra encouraged by Botswana diamond exploration results

LSE-listed Petra diamonds on Wednesday reported “highly encouraging” exploration results for its Kukuma East project, in Botswana, citing potential diamond grades of 75 carats per hundred tons (cpht) of ore. The diamond miner said a drilling...

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 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...

Petra Diamonds set for move to main market

Petra Diamonds, London's largest listed pure diamond producer, expects to step up to the main UK stock market possibly as soon as next week, in a move that could see the African-focused miner included in the FTSE 250 index next March. Shares in...

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...

Company Announcement: Appointment of new Directors- Adoption of new Bye-laws

Petra Diamonds Limited announces that at its Special General Meeting, held today at 3.00 p.m. GMT at the Company’s group management office at Elizabeth House, 9 Castle Street, St Helier, Jersey, all resolutions were duly approved.

Company Announcement: Board Changes and Update of Bye-law

Petra Diamonds Limited announces that it has today sent a notice of Special General Meeting to shareholders. The SGM will be held at the Company’s group management office at Elizabeth House, 9 Castle Street, St Helier, Jersey on Monday 28...

Petra assumes management of Finsch diamond mine

Petra Diamonds has completed the R1.43-billion acquisition of the Finsch diamond mine in South Africa from De Beers Consolidated Mines and will assume management with immediate effect. The mine would more than double Petra’s production, adding...

Petra's Finsch acquisition process in ‘very final stages’

The R1.4-billion acquisition of the Finsch diamond mine in South Africa is in the “very final stages” and will be completed in the near future, Petra Diamonds CEO Johan Dippenaar said on Tuesday. This comes as Petra received approval from the...

Petra on track to double output despite weaker FY production

With the closure of the Finsch acquisition expected in the next few weeks, Petra Diamonds remained on track to more than double production in the 2012 financial year, CEO Johan Dippenaar said on Tuesday. The Africa-focused diamond miner, which is...

Diamond demand overtaking diamond supply

Demand for diamonds is overtaking supply, as the number of low-grade orebodies increase, and diamond-mining group Petra Diamonds CEO Johan Dippenaar believes that, as a result, supply will become more difficult to maintain at historic volumes.

Petra moves to accelerate growth plans as gem market improves

Aim-listed Petra Diamonds said on Monday that it would seek to fast-track expansion plans to take advantage of a markedly improved diamond market, where demand is being buoyed by emerging market growth. The diamond producer had previously planned...