The company proceeded with sales from its Finsch mine in South Africa and the Williamson mine in Tanzania, but opted to hold back Cullinan’s offering. The decision comes as global markets react to escalating trade tensions triggered by the latest round of U.S. import tariffs.
South Africa, a key supplier of diamonds to the U.S., could be significantly affected by any shifts in demand caused by these tariffs. For Petra, the delay comes at a challenging time, as the company navigates ongoing financial strain and market volatility.
While recent sales from other mines yielded improved per-carat pricing, overall revenues from Petra’s 2025 tenders so far remain lower compared to the previous year. The company has withdrawn nearly 200,000 carats from Cullinan, underscoring the growing caution among producers amid global economic uncertainty.
