Petra Diamonds shares jump after another discovery at Cullinan
South Africa’s Petra Diamonds (LON:PDL) has found a 100.83 carat gem-quality diamond at its iconic Cullinan mine in South Africa.
“The recoveries demonstrate the prevalence of these types of stones in the Cullinan orebody as well as the ability of the mine's plant to recover the full spectrum of diamonds,” Petra said.
The company, which appointed last month former gold miner Richard Duffy as chief executive, said that both stones would be included in its upcoming March tender.
Shares climbed as much as 10.5% after the announcement, closing at 21.2p in London on Friday.
Petra has been seeking to turn around its fortunes after piling up debt to expand Cullinan, where the world’s biggest-ever diamond was found in 1905.
source: MINING.COM
Top News
Five last month
Two last year
Mali threatens to let Barrick mine permit lapse over dispute
China will hit peak copper around 2030, industry group says
Codelco suspends operations at copper refinery after worker’s death
Biden administration approves ioneer’s Nevada lithium mine
Could seaweed farms become the next generation of mines?
El-Erian says soaring gold is driven by dollar diversification
Gold price scales $2,800 amid US election uncertainty
Abandoned copper mines embraced as fast track to boost output
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Glencore posts lower metals output for first nine months, reiterates outlook
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Gold price scales $2,800 amid US election uncertainty
Nornickel raises 2024 production guidance for all metals
CHART: Copper price is being held hostage by Beijing
Nornickel raises 2024 production guidance for all metals
El-Erian says soaring gold is driven by dollar diversification
Gold stocks’ secular breakout
China will hit peak copper around 2030, industry group says
China will hit peak copper around 2030, industry group says
Glencore posts lower metals output for first nine months, reiterates outlook
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Gold price scales $2,800 amid US election uncertainty
CHART: Copper price is being held hostage by Beijing
El-Erian says soaring gold is driven by dollar diversification
Gold stocks’ secular breakout
Mali threatens to let Barrick mine permit lapse over dispute