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Anglo facing ‘uphill battle on the trust front’, says bank

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ANGLO American had an uphill task in winning back the trust of investors, according to analysts at Bank of America. Commenting in a report on...

De Beers to assess previously explored deposits in Angola

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DE Beers has extended its involvement in Angola's diamond sector, saying on Tuesday it had signed an agreement with the southern African country aimed...

Petra capital plans target positive cash flow in 2024/25 financial

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PETRA Diamonds would be free cash flow negative in the short-term, especially as the diamond market remained volatile, but a restructure of its capital...

De Beers warns diamond price recovery to take “some time”

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A RECOVERY in the diamond market would "take time", said Al Cook, CEO of De Beers which on Wednesday announced first cycle sales of...

Cautious Duffy tight-lipped Petra’s capital growth plans

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PETRA Diamonds remained "on track" to meet its production guidance of 2.9 million carats to 3.2m carats for the year to end-June 2024, but...

Diamond imports on the rise in December as mid-stream restocks

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INDIA'S rough diamond imports more than tripled in December suggesting a turn in fortunes for the embattled sector. Morgan Stanley said in a report on...

De Beers to spend $1bn on Jwaneng expansion

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DE Beers will go ahead with a planned $1bn investment to extend the life of its flagship Jwaneng mine in Botswana, said Reuters citing...

Lucara brings Karowe expansion back from brink with new debt deal

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LUCARA Diamond said on Wednesday it had secured finance for the completion of the $683m underground expansion of its Karowe diamond mine in Botswana. This...

Petra says buyer may save SA’s historic Koffiefontein mine

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THE historic Koffiefontein diamond mine in South Africa's Free State province could be granted a new lease on life after owner, the UK-listed Petra...

Petra increases credit facility to counter ‘lower-for-longer’ market

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PETRA Diamonds has increased its revolving credit facility by R750m to a total of R1.75bn in preparation for a "weaker-for-longer diamond" market, the company...