Demand for Southern African diamonds increases as Russian stones banned
Diamond miners are seeing increased demand for their gems but are scared they might not be able to keep up with the demand
Petra Diamonds
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NUM to take on Petra Diamonds
Over 2 000 members of the National Union of Mineworkers are to march to the Cullinan offices of Petra Diamonds to hand over a memorandum of demands.
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Petra Diamonds to buy De Beers SA mine
Petra Diamonds said it agreed to acquire South Africa-based Finsch diamond mine from De Beers.
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Cullinan ‘best source’ of blue diamonds from the deep
The historic Cullinan diamond mine remains the world’s most consistently reliable source of blue diamonds, it was reported on Wednesday.
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Rare blue diamond sells for record $9,5-million
A vivid blue diamond weighing 7,03 carats sold on Tuesday for a record ,49-million, the highest price paid per carat for any gemstone at auction.
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Cruel fate of miners who found perfect blue diamond
Workers say conditions at South Africa’s Cullinan mine have deteriorated as new company targets benefits.
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Diamond mining strikes hard times, says producer
Diamond mining junior Petra Diamonds on Friday warned that the diamond mining industry faces difficult times in the year ahead.
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Petra Diamonds swings to annual profit
London-listed Petra Diamonds swung to an annual profit after it bought South African mines from De Beers, and forecast a fivefold jump in output.
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Petra acquires Cullinan from De Beers for R1bn
De Beers Consolidated Mines, the South African arm of diamond giant De Beers, on Thursday said it had agreed to sell the Cullinan Diamond Mine as a going concern to the Petra Diamonds Cullinan Consortium for a consideration of R1-billion payable in cash.
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De Beers sees 14,7-milllion carats in 2007
South Africa’s unit of the world’s top diamond producer De Beers said on Monday it expects to produce 14,7-million carats in 2007, and saw a decline in output of 2-million carats in 2008. ”Very soon we will level at 12-million carats into the future,” said David Noko, managing director of De Beers Consolidated Mines.
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Petra aims for 120 000-carat output at Kimberley
London-listed Petra Diamonds aims to reopen South Africa’s Kimberley underground mine in six to 12 months and restore output to 120 000-carats per year, the firm’s chief executive, Johan Dippenaar, said on Friday. The firm would invest about R100-million per year in Kimberley, which it agreed to buy for R78,5-million from De Beers.
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De Beers sells underground Kimberley operations
The world’s biggest diamond mining group, De Beers, has agreed to sell its loss-making Kimberley underground mines to Petra Diamonds and its black partners, De Beers said on Thursday. De Beers said in a statement details of the transaction, including the financial settlement and output figures for the underground mine, would be given at a media briefing on Friday.
