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Petra progresses operational delivery in third quarter, including labour reduction
London-listed miner Petra Diamonds says the third quarter of its 2025 financial year marked another period of steady operational delivery across the group, with it continuing to execute on its short-term priorities, including labour restructuring, general cost control and disciplined capital management. “Alongside the broader diamond sector, Petra has been navigating a very difficult diamond market. Despite this, Petra has shown considerable resilience by delivering on its production and cost targets, while undergoing unprecedented changes in the business, including the regrettable loss of jobs,” interim joint CEOs Vivek Gadodia and Juan Kemp say of the quarter ended March 31. “We believe the steps we have taken over the past 12 months position Petra well for a successful refinancing. We will now look to commence engagements with our lenders on the refinancing of our debt maturing in early 2026,” they add.
London-listed miner Petra Diamonds says the third quarter of its 2025 financial year marked another period of steady operational delivery across the group, with it continuing to execute on its short-term priorities, including labour restructuring, general cost control and disciplined capital management. “Alongside the broader diamond sector, Petra has been navigating a very difficult diamond market. Despite this, Petra has shown considerable resilience by delivering on its production and cost targets, while undergoing unprecedented changes in the business, including the regrettable loss of jobs,” interim joint CEOs Vivek Gadodia and Juan Kemp say of the quarter ended March 31. “We believe the steps we have taken over the past 12 months position Petra well for a successful refinancing. We will now look to commence engagements with our lenders on the refinancing of our debt maturing in early 2026,” they add.
