Petra Diamonds CEO Richard Duffy quits amid high debt

Australian Financial Review

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Diamonds are not forever (as lab-grown rocks tank prices)

The price of a ring-size single-carat stone has fallen by 37 per cent. To survive, luxury jewellers will have to persuade their clientele that a natural diamond is still worth the outlay.

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Petra Diamonds CEO Richard Duffy quits amid high debt

London-listed Petra Diamonds has announced the resignation of CEO Richard Duffy as debt soared and the company tackled rising cost pressures during the six months ended December amid a weak diamond market.

rapaport.com

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Weak Rough Prices Dent Petra Revenue in First Half

Revenue at Petra Diamonds fell in the first fiscal half amid a sluggish market and a weak comparison with the same period a year ago, when the miner sold extra goods it had deferred.  Sales dropped 30% year on year to $115 million for the six months that ended December 31, the company said Monday. Sales volume decreased 28% to 1.1 million carats, while the average price slipped 2.8% to $103 per carat. Much of the decline stemmed from an addition…

diarioestrategia.cl

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The CEO of the British mining company Petra Diamonds, Richard Duffy, has presented his resignation "with immediate effect" from the position he held since 2019, after the company has reported that in the first half of his fiscal year he recorded losses of 69 million dollars (66 million euros).

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Petra Diamonds appoints joint CEOs as losses mount

Petra Diamonds, the mining company that operates the Finsch mine in the Northern Cape, has announced a leadership shake-up following a widening financial loss of $69 million (roughly R1.27 billion) for the six-month period ending December 2024. File picture PETRA Diamonds, the mining company that operates the Finsch mine in the Northern Cape, has announced a leadership shake-up following a widening financial loss of $69 million (roughly R1.27 bi…

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Petra Diamonds CEO Richard Duffy resigns amid debt crunch

PETRA Diamonds today announced the resignation of its CEO Richard Duffy ending nearly six – largely difficult – years at the company blighted by poor trading conditions which has forced the UK-listed firm into two rounds of restructuring. Duffy’s departure, which is “by mutual agreement and with immediate effect”, appears relatively sudden as he will be replaced on a temporary basis by Vivek Gadodia and Juan Kemp who have been appointed Petra’s …