Petra Diamonds has placed its Finsch mine in South Africa under business rescue proceedings and announced group-wide cost reduction measures, underscoring the continuing challenges facing the global diamond industry and raising concerns for manufacturers dependent on smaller-sized rough diamonds.
The London-listed miner said the move follows a review of Finsch’s financial position amid sustained pressure on prices for smaller diamonds, a stronger South African rand and ongoing liquidity constraints. According to Petra, Finsch has been particularly affected by the structural decline in prices for goods predominantly below 2 carats, prompting the company to initiate a formal restructuring process.
The development is significant for the Indian diamond manufacturing sector, which processes a substantial share of the world’s smaller-sized rough diamonds. Continued weakness in this segment could affect rough supply dynamics and reinforce pressure on manufacturing margins.
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De Beers Group Celebrates the Natural Father-Daughter Bond
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Honoured to be featured in The League Extraordinaire by The New Indian Express Group alongside 32 distinguished leaders. Grateful to Shri Eshwar B. Khandre and Shri Jagadish Shettar for the felicitation, and thankful to everyone who has supported my journey. 🙏✨
2Honoured to be featured in The League Extraordinaire by The New Indian Express Group alongside 32 distinguished leaders. Grateful to Shri Eshwar B. Khandre and Shri Jagadish Shettar for the felicitation, and thankful to everyone who has supported my journey. 🙏✨
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International Yoga Day 2026 was celebrated with great enthusiasm at Bharat Diamond Bourse under the theme "Yoga for Healthy Ageing."
The event brought together members of the gem & jewellery fraternity, highlighting the importance of yoga for wellness, balance, and healthy living
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