Petra to Invest Hundreds of Millions to Extend Life of Two South African Mines

Petra Diamonds will be investing $289 million to extend the life of the Cullinan mine and the Finsch mine (both in South Africa), IDEX Online reports. Credit: Petra Petra Diamonds said it will spend $173 million on Cullinan, and $216 million on Finsch to extend the life of

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Lucapa achieves record revenue in 2021

ASX-listed Lucapa Diamond Company achieved A$22.3-million in attributable earnings before interest, taxes, depreciation and amortisation for the year ended December 31, 2021. In a trading statement ahead of the release of its results towards the end of March, the company reported that it had achieved record operational performances from its

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Zimbabwe’s Mines and Mining Development Minister Winston Chitando promised The Herald that renewal of mining licenses “would be subject to miners’ sustainable mining practices that are environmentally friendly. According to Rough & Polished, Zimbabwe seeks to “stop environmental degradation.” Credit: ZCDC Chitando is quoted as saying: “It is

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Lucara’s 2021 annual revenue of $230.1 million, increases 84%

This follows it de-risking its future growth strategy with the sanction of the fully financed, Karowe underground expansion project. The post Lucara’s 2021 annual revenue of $230.1 million, increases 84% appeared first on Miningreview.com.

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Petra generates $110m so far in fourth tender cycle

London-listed Petra Diamonds says it has successfully closed sales for about 80% of the volume of diamonds on offer during its fourth tender cycle for its 2022 financial year ending June 30. About 589 100 ct have been sold for $110-million, at an average price of $188/ct.

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Strong diamond market pushes Lucara’s full-year revenue, Ebitda higher

Vancouver-headquartered Lucara Diamond Corporation achieved a more than five-fold year-on-year increase in adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to $102.5-million for the financial year ended December 31. That compares with the adjusted Ebitda of $18.4-million reported for the 2020 financial year. Lucara has attributed the increase primarily

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