Adonis Pouroulis Petra Diamonds

Tanzania’s Williamson Diamonds goes totally Pink

London-listed and South Africa-active Petra Diamonds has sold its entire shareholding in Williamson Diamonds of Tanzania, plus all shareholder loans owed to it, to Pink Diamonds Investments, also of Tanzania.

Petra Diamonds founder steps down

adonis poroulis

South Africa’s Petra Diamonds is saying goodbye to Adonis Pouroulis, the company’s founder and chairman for 23 years. The diamond producer, which dropped the role of chief operating officer in November because of management restructuring, said Pouroulis is being succeeded by Peter Hill, who was appointed a non-executive director of Petra and chairman-designate in December. Hill began his career … Read more

Petra Diamonds H1 Production Up, but Revenue Down

Petra blue rough diamond

Petra Diamonds Limited has announced that while its production for the six months ended December 2019 was up 3 percent to 2,070,240 carats (H1 FY 2019: 2,019,147 carats), revenue for the same period was down 6 percent. Revenue fell to $193.9 million from 1,743,807 carats (H1 FY 2019: $207.1 million from 1,736,357 carats). The decline … Read more

Artisanal small-scale diamond mining initiative launched

Petra Rough Diamond

Petra Diamonds has launched an artisanal small-scale mining initiative in South Africa. This follows a process of extensive consultation and cooperation with relevant stakeholders. These include the Department of Mineral Resources and Energy (DMR&E), as mining sector regulator, the Letsemeng Local Municipality, as elected representatives of the community, and the community itself. Richard Duffy, CE … Read more

Petra Diamonds’ revenues decline

Petra Diamonds

Petra Diamonds Limited lost some of their lustre, sliding 5.3% to 7.65p after the diamond miner underwhelmed with a trading update. Revenue in the three months to the end of September – the first quarter of the company’s fiscal year – was down 23% to US$61.6 million from US$80.2 million in the same period of … Read more