Petra Diamonds
Petra Diamonds is a prominent player in the rough and polished diamond market, known for producing notable large-scale stones and supporting a significant portion of global supply. Its performance in mining output, production forecasting, and financial health affects pricing, sourcing strategies, and inventory decisions across the UK trade. Jewellery Focus offers expert coverage of Petra Diamonds’ developments—from mine performance and auction results to market positioning and regulatory factors. Our reporting equips jewellers, diamond suppliers, valuers, and manufacturers with the insights needed to anticipate supply shifts, manage margins, and stay competitive in a dynamic diamond landscape.
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Feb- 2025 -17 FebruaryManufacturers
Richard Duffy steps down as Petra Diamonds CEO
Petra Diamonds has announced that Richard Duffy has resigned as CEO and director of the company by mutual agreement and with immediate effect. Vivek Gadodia and Juan Kemp have been appointed as joint interim chief executive officers. Gadodia will have responsibility for all group corporate matters and Kemp will have…
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Dec- 2024 -23 DecemberManufacturers
Petra Diamonds revenues drop 7% despite 17% rise in volumes
Petra Diamonds has reported a 7% drop in tender three FY 2025 sales to $71m (£56.6m) despite selling 700,803 carats, up 17% compared with the combined 600,161 carats sold in tenders one and two. The group stated that its sales were affected by a continued weak market across most size…
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Oct- 2024 -24 OctoberManufacturers
Petra Diamonds revenues drop 76% despite rise in production
Petra Diamonds has reported a 76% drop in revenues to $23m (£17.74m) in Q1 FY2025 from $113m (£87.16m) the prior quarter despite a 7% increase in diamond production to 679,625 carats from 636,743 carats in the prior period. The group stated that business was impacted by the deferral of the…
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Jun- 2024 -28 JuneManufacturers
Petra Diamonds appoints new CFO
Petra Diamonds has announced the appointment of Johan Snyam as its new chief financial officer, with effect from 1 October 2024. Snyam will succeed Jacques Breytenbach who, as previously announced, will be stepping down from his position as chief financial officer and director of the company at the end of…
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Nov- 2023 -17 NovemberManufacturers
Petra Diamonds chair steps down
Petra Diamonds has announced that chairman Peter Hill, CBE, has stepped down from his role following the conclusion of its annual general meeting. Following his departure, the board has appointed Varda Shine, senior independent director, as chair of Petra. Shine will lead a search for a permanent chair and also…
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Sep- 2023 -15 SeptemberManufacturers
Petra Diamonds swings to loss amid diamond production decline
Petra Diamonds has reported that it swung to a pre-tax loss of $38.8m (£31.31m) in its preliminary results for FY2023, down from a pre-tax profit of $139.5m (£112.58) the previous year. It also confirmed its adjusted profit before tax amounted to $8.3m (£6.69m), compared with $155.1m a year prior. Petra…
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Jan- 2023 -16 JanuaryNews
Petra Diamonds lowers diamond production rate guidance
Diamond company Petra Diamonds has lowered its diamond production rate guidance for the current financial year through to FY24 in its half year operating results for FY23. The company stated a number of difficulties it faced in the first of the financial year as the reason for this decrease. Its…
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Sep- 2022 -13 SeptemberManufacturers
Petra Diamonds FY22 revenues jump 44% to $585m
Petra Diamonds has announced its revenues grew 44% year-on-year from $406.9m (£347.5m) to $585m (£499.6m) for the year ended 30 June 2022 (FY22). This comprises revenues from rough diamond sales of $584.1m (£498.8m) and additional revenues from profit share agreements on partnership stones of $1.1m (£939k). The increase in revenues…
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Jul- 2022 -19 JulyManufacturers
Petra FY22 revenues hit £486.7m
Petra has announced that its revenues hit $585.2m (£486.7m) in the financial year ending 30 June 2022 (FY22), up year-on-year from $406.9m (£338.43m). This comprises a 44% rise in revenues to $584.1m (£485.81m) from diamond sales, and additional revenues from profit share agreements of $1.1m (£914,903). Petra said the increase…
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4 JulyManufacturers
Petra Diamonds sales hit £481.8m
Petra Diamonds has revealed its sales increased 43% year-on-year from $406.9m (£335.4m) to $584.5m (£481.8m) for the full year ending 30 June 2022 (FY22), although the number of carats sold dropped year-on-year from 3,960,475 to 3,536,371. Additionally, Tender 6 of FY22 saw 569,496 carats sold for a total of $93m…
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