IDEX Online - Rough Market Rough Market
- Union Condemns Petra's Mine Suspension and Jobs Threat
on 16 June 2026 at 12:00 pmSouth Africa's National Union of Mineworkers (NUM) has condemned Petra over its decision to put its Finsch mine into business rescue, and to issue a jobs warning for its other deposit, at Cullinan. The union says a total of 1,779 jobs are at risk...
- Business Rescue Plan for Finsch Mineon 11 June 2026 at 3:00 pm
Petra Diamonds says business rescue practitioners (BRPs) will now see if they can find a way to save the Finsch mine, in South Africa. They've taken custodianship of the beleaguered mine and will draw up a revised business plan that must be approved ...
- De Beers: Botswana Seeks Gulf Help to Buy Reduced Stakeon 8 June 2026 at 5:00 am
Botswana is reportedly seeking financial help from UAE and Oman to buy a reduced stake in De Beers. It had been aiming for overall control of the loss-making miner, but has scaled back its ambitions amid the worst downturn in the diamond industry's...
- Petra Suspends Operations at Finschon 4 June 2026 at 3:00 am
Petra has suspended operations at its Finsch mine, in South Africa, blaming "an unprecedentedly weak diamond market" compounded by tensions in the Middle East and a strong rand. The loss-making UK-based miner said there had been "a structural shift ...
- Lesotho's Biggest Diamond Mine Halts Operationson 3 June 2026 at 8:00 am
The Kao diamond mine, in Lesotho, is to halt operations at the end of this month. Loss-making operators Storm Mountain blames a slump in sales, together with a crippling rise in fuel prices as a result of conflict in the Middle East. It also said growing...