Petra Diamonds, the AIM-listed mid-tier diamond exploration, development and production with all of its operations in southern Africa announced that three of its senior directors had agreed to acquire about 4.1 million shares in Petra from BHP Billiton. For full story, click here
Petra Diamonds Ltd., a miner of the gems in Africa announced its plans to sell its first cut and polished stone at Sotheby’s in an auction that it estimates will fetch as much as $8.5 million. For full story, click here
In 2008, as the bleak economic outlook deepened, there were significant repercussions for the diamond industry. Early on in the downswing it seemed that the industry would withstand the economic current. However, under close examination it was apparent that a storm was brewing.
Petra Diamonds Ltd announced on Monday it is not planning any major production cuts in response to due to decline in demand and prices of gems. For more information, click here
The government was in discussions with Petra on increasing production at the mine to 500,000 carats a year from 200,000 carats, and eventually to 1 million carats a year. For full story, click here
AIM-listed miner Petra Diamonds can keep the 75 percent stake in Tanzania’s Williamson diamond mine it bought in 2008, the east African country’s energy and minerals minister said on Wednesday. For full story, click here
Petra has ended its exposure to Angola. This follows its decision to withdraw from the Luangue diamond project, which will be returned to Angolan state diamond company Endiama, For full story, click here
Christmas sales of diamond jewellery have been disappointing, says Royal Bank of Canada Europe diamond analyst Des Kilalea. For full story, click here
The diamond industry has been having a unique year.The top jewelry sales time is just around the corner, and not till that milestone is over and the numbers are crunched will companies be able to conclude on the successes and failures of 2008.
Canada’s diamond production is on the rise. According to a report issued by the Mining Association of Canada, production rose 28 percent to 17 million carats in 2007.
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