Williamson mine, Tanzania

A diamond mine located in Shinyanga province, in Tanzania.

Petra grows revenues 44% despite lower production

Africa-focused Petra Diamonds on Wednesday reported strong sales for the first half of its 2011 financial year, boosting revenue by 44%, even with lower production levels. The Aim-listed company increased its revenue to $90-million in the six...

Petra concludes $83,5m IFC, RMB debt facilities

JSE- and Aim-listed Petra Diamonds has concluded debt facilities worth $83,5-million with the International Finance Corporation (IFC) and Rand Merchant Bank (RMB), it said on Thursday. The company initially announced its intention to secure debt...

Petra signs $78m loan agreements with RMB and IFC

JSE- and Aim-listed Petra Diamonds' on Wednesday inked final loan agreements with Rand Merchant Bank (RMB) and the World Bank's International Finance Corporation (IFC) to secure new debt facilities of $78-million. The company said in a statement...

Petra Diamonds on track to double production to 2,5m carats 2014

Expansion plans were on track for Petra Diamonds to more than double production to more than 2,5-million carats by financial year (FY) 2014 and more than triple production by FY 2019, Petra CEO Johan Dippenaar said on Monday. The London...

De Beers mulling offers for troubled Namaqua, Finsch

Diamond-miner De Beers said on Thursday that it had received approaches from potential investors interested in buying the company's troubled Namaqualand and Finsch diamond mines in the Northern Cape. De Beers, whose CEO Gareth Penny is stepping...

Petra boosts diamond output, sees 'strong' market recovery

JSE- and Aim-listed Petra Diamonds' production increased by 6% to 1,16-million carats in the year ended June 30, 2010, compared with the 1,09-million carats produced the year before. Diamond sales were up by 11% to 1,13-million carats, compared...

Diamond markets show signs of recovery

Diamond-mining giant De Beers international rough diamond trader Diamdel witnessed a strong surge in demand during its first-quarter (Q1) sales activities. Small and medium-scale specialist diamond goods manufacturers primarily drove the strong...

Petra agrees $78m debt facility to fund mine expansions

London-listed Petra Diamonds said on Wednesday that it had agreed a new debt facility of $78-million, which it would use to fund expansions at its Williamson mine, in Tanzania, and its Cullinan mine, in South Africa. Petra Diamonds CEO Johan...

Petra sells 507-ct diamond for record $35m

The 507,5 ct Cullinan Heritage diamond has been sold for a record $35,3-million, the highest sale price ever recorded for a rough diamond. JSE-and LSE-listed Petra Diamonds on Friday reported that it had sold the diamond, at a tender held in...

Petra sets 2019 production target of 3m carats

Africa-focused diamond-miner Petra Diamonds would expand its production to more than three-million carats a year by 2019, while it remained on track to achieve its targeted output of 1,2-million carats for the 2010 financial year. "Petra has...

Petra may increase stake in Cullinan mine to 74%

London-listed Petra Diamonds confirmed on Wednesday that it plans to undertake an equity fundraising and said it had entered into an option agreement that would double its stake in South Africa's Cullinan mine to 74%. The fundraising, led by...