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Petra Diamonds cuts jobs and puts Finsch mine under rescue

Petra Diamonds is cutting jobs and placing its Finsch mine under business rescue. The firm suspended guidance as weak prices for small stones impact revenue.

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Petra Diamonds Ltd-DI will cut group-wide jobs and place its Finsch mine under business rescue to restructure the operation. The South African asset generated 34% of Petra's fiscal 2025 revenue. Investors face uncertainty as Petra suspended financial guidance for fiscal 2026 through 2030.

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