Petra Diamonds Mining News

South Africa labour disputes weigh on Petra Diamonds results

Labour disputes earlier in the year caused delays in the building of a new plant in its Cullinan mine in South Africa.

World's second-largest diamond 'too big' to sell

Lucara Diamond’s Lesedi La Rona is said to face challenges other rock never do, including its multi-million-dollar price tag and a risky polishing process that can take months or years.

Tanzania suspends granting of new mining licences

President John Magufuli has also ordered the mining ministry to freeze the renewal of expired permits.

Tanzania laws would allow govt to tear up mining, energy deals

The Tanzanian government submitted three bills to parliament on Thursday that would allow it to force mining and energy companies to renegotiate their contracts.

Petra Diamonds warns output to fall short, shares crash

The company, which owns the Cullinan mine that has produced the two largest diamonds in the British Crown Jewels, said output and revenue will be lower than market expectations.

Diamond producers go after Millennials with Oscars-time spot

The target group was the the top diamond consumer in 2015, a year in which most commodities plummeted, hitting the mining industry very hard.

Petra Diamond sees shiny 2017 for the global industry

The miner is confident in the long term outlook for the diamond industry and it expects is to be cash flow positive in the second half of the current financial year.

Petra Diamonds finds massive 138-carat white rock at its Cullinan mine

The diamond will be offered for sale in Johannesburg later this month.

Petra Diamonds results beat expectations on strong sales, production

Output rose 16% to 3.7 million carats, which puts Petra on track to hit its long term annual target of 5 million carats in 2018, a year earlier than planned.

Petra sells 121.2- carat diamond for $6 million

It was found at Petra's Cullinan mine in South Africa, which has yielded several massive gems, including the largest rough gem diamond ever discovered.

Petra finds another massive diamond at its Cullinan mine

The 121.26-carat white rock is a Type II diamond "of exceptional colour and clarity," according to Petra.

Massive Cullinan Dream blue diamond fetches over $25m at auction

Price tag makes it the most expensive fancy intense blue diamond ever sold at auction.

Petra Diamonds just sold this ‘exceptional pink’ gem for $15m

The 32.33-carats diamond was recovered in November from the firm’s Williamson mine in Tanzania.

Petra Diamonds swings to loss as sales, prices dropped

The company remains upbeat and expects a better performance in the second half, driven by a recovery in diamond prices.

Despite De Beers and Rio's efforts, global diamond output to jump 1.3% this year

The miners concerted effort to limit global diamond supply is forecast to be offset by stable Russian production, new mines, and production increases by Dominion Diamond and Petra Diamonds.

Russia’s Alrosa quarterly sales up 45%

Rough diamonds sales rose to 7.1 million carats in October through December. This compares with 4.9 million carats of sales in the third quarter.

De Beers closing another diamond mine, this time in Botswana

Debswana, a 50/50 joint venture between De Beers and the government of Botswana, is set to close its Damtshaa mine and scale down production at Orapa.

De Beers' Kimberley Mines sold to Petra Diamonds, Ekapa Mining for $7.2m

The sale marks the end of De Beers' century-long diamond mining history in South Africa.

Petra Diamonds losing some sparkle, net profit down 33 pct

But the company is on track to reach its longer-term target of about 5 million carats of diamond production a year by 2019.

This blue diamond may become the most expensive gem ever sold at auction

"Blue Moon" is expected to fetch up to $55 million when it goes under Sotheby's hammer on Nov. 11, in Geneva.

Petra Diamonds shares fall on lower revenue warning

The miner said smaller than expected diamonds at its Finsch and Cullinan mines in South Africa have sold at modest prices.

Seven diamond miners form group to fight synthetics

But some believe main challenge will be falling prices and wholesalers difficult access to credit to purchase rough diamonds.

This is the $10 million-plus white diamond just found in South Africa

Analysts predict could fetch between $10 million to $16 million.

This extremely rare $25.6 million blue diamond may reveal Earth’s origins

The “Blue Moon" will go on public display in three weeks' time in Los Angeles, California.

Outperforming Lucara likely to use its paper to grow

Share price continues to hit all-time highs.