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Miner Petra Diamonds puts up ‘for sale’ board

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Petra Diamonds has put itself or parts of its business up for sale, the Africa-focussed miner said on Friday, as part of a review the company began in March after being hammered by lacklustre demand and prices for the precious gem.

The company has been in talks with its creditors to shore-up finances as the COVID-19 pandemic forced it to scale back operations in a troubled diamond market.

London-listed Petra said it is seeking offers, but has received none so far and could cancel its decision at any time. Seeking potential buyers offers is a standard part of restructuring processes where the company weighs all options.

Read more at Moneyweb


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