Petra appoints new CEO, narrows H1 net loss

LSE-listed Petra Diamonds, which on Monday announced the appointment of Richard Duffy as CEO, narrowed its adjusted net loss after tax to $4.5-million for the six months ended December 31, 2018, from the net loss of $7.2-million recorded for the six months to December 31, 2017. Nevertheless, outgoing CEO Johan Dippenaar conceded that the company’s interim results had been impacted on by the lower value of the product mix at its Cullinan mine, in South Africa’s Gauteng province.