Diamond miners are seeing increased demand for their gems but are scared they might not be able to keep up with the demand
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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/ 21 January 2011
Petra Diamonds said it agreed to acquire South Africa-based Finsch diamond mine from De Beers.
The historic Cullinan diamond mine remains the world’s most consistently reliable source of blue diamonds, it was reported on Wednesday.
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.
Workers say conditions at South Africa’s Cullinan mine have deteriorated as new company targets benefits.
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/ 19 December 2008
Diamond mining junior Petra Diamonds on Friday warned that the diamond mining industry faces difficult times in the year ahead.
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/ 23 September 2008
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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/ 22 November 2007
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.
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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/ 14 September 2007
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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/ 13 September 2007
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.