Category: Mining

Petra Postpones Cullinan Rough Tender Amid Tariff Threat 

Prices from goods at company’s other sites up 9% over previous sale.

Kim Truter Steps Down as CEO of Burgundy Diamond Mines

Company names current board member Jeremy King interim chief.

Mountain Province Struggle Continues as Loss Nearly Doubles in 2024 

Revenue down 19% to $267.7 million as rough prices slide.

Petra Refutes Union Claim of Mass Layoffs 

Miner will dismiss only 84 workers, not the 468 that South African labor association alleged.

Majority Shareholder Bails Out Mountain Province with $20M Loan 

Funds will help miner pay off debts to joint-venture partner De Beers.

Petra to Lay Off Nearly 500 Employees, Union Claims 

Company to dismiss workers at South Africa’s Finsch and Cullinan mines.

Lucapa Gains Majority Share in Lulo Mine

Following talks with Angolan government, company ups stake to 51% from 39%.

Alrosa to Pause Production at Some Mines 

Russian miner will also hold tender for approximately $12 million in special-size stones.

Strong Rough Prices Boost Gem Diamonds in 2024 

Revenue up 10% for full year, while profit more than quintuples.

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