London-listed Petra Diamonds has postponed its August/September tender to align with actions by major producers aimed at restricting supply in response to weaker market demand.
The rough diamond parcels from Petra’s South African operations, initially slated for sale in the first tender of the 2025 financial year, will now be included in the second tender, scheduled to close in mid-October.
This decision does not affect the tender schedule for diamonds from Petra’s Williamson mine in Tanzania.
Petra’s South African operations include the Cullinan and Finsch mines. The company anticipates that maintaining supply discipline, coupled with seasonally stronger demand later in the year, will help support pricing in the coming months.
Petra’s recent financial strengthening has provided the company with the flexibility to adjust tender timings in response to market conditions.
The company reassured shareholders that it has sufficient liquidity and access to undrawn credit facilities to meet its working capital needs.
