Petra cuts latest sign of a down diamonds market
Petra Diamonds (LSE: PDL) has revised its guidance for the next two fiscal years and appointed a new finance leader as part of its plans to lower expenses and debt…
Petra Diamonds Limited
What to expect in 2024 after diamond sector’s price plunge
It’s been a tough ride for the diamonds sector since rough prices hit an all-time high in the first quarter of 2022. Last year rough prices fell 15-20% according to…
Mystery buyer in deal with Petra Diamonds for idled Koffiefontein mine
South Africa’s Petra Diamonds (LSE:PDL) has signed a non-binding deal to sell its loss-making Koffiefontein diamond mine in its home country to an unnamed party. Terms of the potential sale…
Petra Diamonds halts Williamson mine in Tanzania after dam breach
Petra Diamonds (LSE: PDL) said on Monday it had halted operations at its Williamson mine in Tanzania after a tailings storage facility burst, causing flooding in nearby areas. The company,…
Petra Diamonds to resume dividend payouts after three-year turnaround
Petra Diamonds (LSE: PDL) said on Tuesday it would resume paying a dividend and launch a US$150-million debt-cutting plan after stronger prices fuelled by sanctions on Russia’s Alrosa, the world’s…
Petra Diamonds’ latest sale crowns ‘strong’ year
South Africa’s Petra Diamonds (LSE: PDL) said Thursday it fetched US$93 million in its last sale of fiscal year 2022, as prices for its diamonds climbed 7.7% from the previous…
Petra Diamonds mulls sale of loss-making Koffiefontein mine
South Africa’s Petra Diamonds (LSE: PDL) is exploring options to offload its loss-making Koffiefontein diamond mine in the home country, which is scheduled to reach the end of its life…
Petra Diamonds accused of human rights abuses in Tanzania
Struggling Petra Diamonds (LSE:PDL), which put itself up for sale in June, is facing allegations of human rights abuses by the security guards at its Williamson mine in Tanzania. The…
Dominion Diamond sues partner in Diavik mine
Dominion Diamond Mines is suing DDMI, its associate in the iconic Diavik mine and a subsidiary of Rio Tinto (NYSE: RIO; LSE: RIO), for alleged breach of contract and acting…
Dominion Diamond unveils plan to avoid bankruptcy
Canada’s Dominion Diamond Mines has unveiled a transaction that would allow it to exit court protection from creditors and access short-term operating funds, which would pave the way to eventually…
Alrosa’s anemic April sales underscore market distress
Russia’s Alrosa, the world’s top diamond producer by output, saw sales for rough and polished diamonds fall to US$15.6 million in April, as the coronavirus pandemic continues to hit demand….
Editorial: Are diamonds forever?
We’re hosting our second annual Diamonds in Canada Symposium in June in Toronto at an unlikely time. In a sector that has seen so much uncertainty in the past decade,…