Petra defers August/September tender amid weak demand
London-listed Petra Diamonds has decided to postpone its August/September tender to support steps taken by major producers to restrict supply in the current weaker demand environment.
The rough diamond parcels from its South African operations that would have been earmarked for sale in August/September as part of the first tender for the 2025 financial year will now be tendered as part of the second tender, which is expected to close in mid-October.
The schedule for tenders for diamonds from the Williamson mine, in Tanzania, remains unchanged.
Petra’s South African producing operations include the Cullinan and Finsch mines.
Petra expects supply discipline and the expected seasonally stronger demand later in the year to provide some pricing support in a few months’ time.
Petra’s recent steps to strengthen its balance sheet have enabled flexibility around the timing of its tenders to respond to prevailing market conditions.
The company assures shareholders that it has adequate liquidity and undrawn balances on its credit facility to continue funding its working capital requirements.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation