Petra warns of revenue hit after limp diamond market forces cancellation of sales miningmx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miningmx.com Daily Mail and Mail on Sunday newspapers.
A slowdown in the market for rough diamonds as a result of elevated inventory in the midstream has prompted Petra Diamonds to postpone the majority of its Tender 6 rough diamond sales. Petra had previously expected to offer for sale about 230 000 ct of diamonds recovered at its Cullinan mine and about 150 000 ct of diamonds recovered at its Finsch mine as part of its sixth sales tender for the 2023 financial year, which ends on June 30.
Petra Diamonds Ltd - diamond miner in Tanzania and South Africa - Warns results for financial year ending June 30 will be hurt by decision to postpone its planned sixth tender of rough diamonds from June until August, though financial 2024 will benefit. . | 08:50am
Petra Postpones 380,000-cts Tender amid Midstream Slowdown idexonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from idexonline.com Daily Mail and Mail on Sunday newspapers.
Petra Diamonds announced last week that Taifa Mining and Civils Limited, will be buying 50 per cent less one share of the Petra’s shareholding in Williamson Diamonds Limited (WDL). Tiafa Mining has been serving as the long-term technical services contractor at the Williamson Mine for over 20 years in coordination with Petra but have now stepped up their role as an equity stakeholder in the project.