Petra Diamonds predicts slow recovery in diamond prices Mining The average realised price per carat for the six months came in at $113 per carat (£90), in line with prices in the first half of the year but down 29 per cent from the second half of 2022.
How Petra Diamonds plan to use tech to battle rise of lab-grown alternatives commodities Blockchain technology could help diamond sellers confirm the emissions footprint and the quality of working conditions at their mines.
Petra Diamonds posts sparkling revenue as demand and price surge DIAMONDS Revenue was up 33 per cent to $140.6m for Petra Diamonds, as the price of diamonds spike by over 30 per cent from 2021.
How lab-grown diamonds could solve ethical and price problems to be next crown jewel September 16, 2023 Petra Diamonds share price took a three per cent tumble on Friday morning, following news that the number of rough diamonds it sold slumped by 33 per cent. Adjusted profit before tax also fell by a whopping 95 per cent $8.3m (£6.7m), driven by a drive decline in total diamond production. The FTSE 250 company [...]
Petra Diamonds books $10m loss as prices decline February 17, 2020 Petra Diamonds fell to a loss in the first half of the year after increasing production at the miner was offset by a decline in diamond prices. Shares in the firm fell over nine per cent in early trading. The figures The company booked a $10m loss in the six months to December, a swing [...]
Petra Diamonds revenue falls but glimmers of hope remain January 27, 2020 Precious stone miner Petra Diamonds said that its revenue fell six per cent in the first half of the financial year due to slowing demand in Asian markets. The firm sold 1.7m carats for $193.9m (£148.5m) in the period, compared to $207.1m in the same period in 2019. Anti-government protests in Hong Kong, as well [...]
Petra Diamonds appoints new chairman as founder steps down December 17, 2019 Petra, one of the world’s largest diamond miners, has appointed Peter Hill as its next chairman, succeeding the group’s founder Adonis Pouroulis. Hill, a mining engineer by trade, is currently non-executive chairman of geotechnical contractor Keller Group and building products firm Volution. Read more: Diamond in the rough: Petra sells blue gem for £14.9m Between [...]
Petra Diamonds loses its sparkle as annual profits plunge September 16, 2019 Petra Diamonds suffered a double-digit fall in annual profits during the last year as weak diamond prices dragged down the South African mining giant. London’s largest quoted diamond mining group reported adjusted core profits of $153m (£122.8m) in the 12 months to 30 June 2019, plunging 22 per cent from the previous year. Read more: [...]
Petra Diamonds share price sparkles as fears over refinancing plan recede July 30, 2019 Petra Diamonds enjoyed a double-digit surge in its share price today, as the troubled mining group eased investor jitters over its cash strategy. Fears of a new equity financing plan sent the firm’s stock value to new lows last week, falling below 10p on London’s Stock Exchange. Read more: Petra Diamonds aims to be cash [...]
Petra Diamonds aims to be cash flow positive this year despite falling production April 15, 2019 Miner Petra Diamonds plans to have a positive cash flow by the second half of 2019, the company said today even as production fell in the third quarter of the financial year. The company’s mines spat out 924,000 carats of diamonds, down 6.9 per cent on the year before as production decreased at its Finsch mine. [...]