Petra Diamonds has put itself or parts of its business up for sale, the Africa-focused miner said on Friday, as part of a review the company began in March after being hammered by lacklustre demand and prices for the precious gem.
The company has been in talks with its creditors to shore-up finances as the Covid-19 pandemic forced it to scale back operations in a troubled diamond market.
London-listed Petra said it is seeking offers, but has received none so far and could cancel its decision at any time. Seeking potential buyers offers is a standard part of restructuring processes where the company weighs all options.