RAPAPORT… Operations at Petra Diamonds’ South African mines have
resumed after the local electricity provider lifted restrictions on power usage.
“The company’s mining operations in South Africa are…now
operating at normal load levels,” the miner said Thursday.
On Tuesday, Petra halted all production, hoisting
and processing at its Cullinan, Finsch and Koffiefontein deposits after Eskom enforced blackouts across the country. Heavy rains have hit
power stations and affected Eskom’s operations, prompting it to implement emergency measures.
Petra has not disclosed whether the two-day shutdown will
have an impact on its production performance. Its stock rose 2% Thursday,
following an 8% Tuesday.
Image: The Koffiefontein mine. (Petra Diamonds)
Petra’s South African Operations Back on Track
The Bottom Line
- Petra Diamonds halted production at Cullinan, Finsch, and Koffiefontein mines due to Eskom-enforced blackouts.
- Operations resumed at normal load levels following the lifting of electricity restrictions.
- Petra has not disclosed the impact of the two-day shutdown on overall production.
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