Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPetra Diamonds Share News (PDL)

Share Price Information for Petra Diamonds (PDL)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 43.80
Bid: 41.00
Ask: 43.60
Change: 1.30 (3.06%)
Spread: 2.60 (6.341%)
Open: 41.00
High: 43.80
Low: 41.00
Prev. Close: 42.50
PDL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Petra Diamonds Cullinan Open Pit Disrupted By Sidewall Incident

Wed, 30th Oct 2019 12:15

(Alliance News) - Petra Diamonds PLC said Wednesday that mining at the Cullinan open pit mine in South Africa was temporarily stopped after a pit slope scaling.

After a thunderstorm on Saturday, the sidewall of the open pit at Cullinan scaled during the weekend and into Monday with around three million tonnes of material falling into the pit. The incident resulted in dust being thrown into the air, affecting the local community.

No staff were hurt in the incident.

After initially being suspended, underground mining resumed later on Monday. Petra does not expect the incident to result in a "material impact" on production.

Petra has since engaged with the South African Department of Mineral Resources as well as labour unions and the local community. A number of actions have been agreed upon.

"We will take whatever steps are necessary, including the engagement of external technical specialists if required, to better understand this incident and any impact on future pit stability," Chief Executive Officer Richard Duffy said.

"The safety of our employees and surrounding communities continues to remain our key focus," Duffy added. "Our meetings with our partners in Government, labour unions and the community earlier today were very constructive and their valued input is appreciated."

Shares in Petra were 0.7% lower at 7.65 pence in London on Wednesday.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News
25 Aug 2021 10:02

Petra Diamonds makes USD14 million on sale blue and white stones

Petra Diamonds makes USD14 million on sale blue and white stones

Read more
23 Aug 2021 14:11

EXECUTIVE CHANGES: Condor Gold hires CFO; Serinus Energy brings in COO

EXECUTIVE CHANGES: Condor Gold hires CFO; Serinus Energy brings in COO

Read more
21 Jul 2021 19:14

TRADING UPDATES: Fonix Mobile annual earnings grow; MySale cuts costs

TRADING UPDATES: Fonix Mobile annual earnings grow; MySale cuts costs

Read more
21 Jul 2021 10:20

Petra Diamonds annual revenues surge, raises FY22 guidance

(Sharecast News) - Mining outfit Petra Diamonds reported a 38% increase in full-year revenues and forecast for higher production in 2022 on Wednesday.

Read more
14 Jul 2021 16:17

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
1 Jul 2021 17:05

EXECUTIVE CHANGES: AB Dynamics founder retires; Resolute hires CFO

EXECUTIVE CHANGES: AB Dynamics founder retires; Resolute hires CFO

Read more
1 Jun 2021 21:49

IN BRIEF: Petra Diamonds announces sales process for blue diamond

IN BRIEF: Petra Diamonds announces sales process for blue diamond

Read more
12 May 2021 14:56

Petra Diamonds says it reaches settlement on rights abuse claims

KAMPALA, May 12 (Reuters) - Petra Diamonds has reached a settlement with claimants at its Williamson mine in Tanzania who accused the firm of being responsible for widespread human rights violations including beatings and detentions, both sides s...

Read more
20 Apr 2021 18:36

TRADING UPDATES: Petra prices recover; Zoo Digital earnings to jump

TRADING UPDATES: Petra prices recover; Zoo Digital earnings to jump

Read more
7 Apr 2021 20:06

Moody's upgrades Petra Diamonds' rating to Caa1; positive outlook

Moody's upgrades Petra Diamonds' rating to Caa1; positive outlook

Read more
1 Apr 2021 06:57

IN BRIEF: Petra delays feedback on Williamson mine allegations

IN BRIEF: Petra delays feedback on Williamson mine allegations

Read more
25 Mar 2021 13:07

Watchdog RAID claims eye witness account of "abuses" at Petra mine

Watchdog RAID claims eye witness account of "abuses" at Petra mine

Read more
17 Mar 2021 11:09

SMALL-CAP WINNERS & LOSERS: Empiric Student sinks to loss on closures

SMALL-CAP WINNERS & LOSERS: Empiric Student sinks to loss on closures

Read more
12 Mar 2021 13:25

Friday broker round-up

(Sharecast News) - Petra Diamonds: Berenberg upgrades to buy with a target price of 2p.

Read more
12 Mar 2021 09:41

BROKER RATINGS: SocGen upgrades Shell and Centrica to Buy

BROKER RATINGS: SocGen upgrades Shell and Centrica to Buy

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.