Question 1

What did Finsch Diamond Mine creditors approve on 7 August 2026?

Accepted Answer

On 7 August 2026, Finsch Diamond Mine creditors approved a business rescue plan to sell the mine’s assets rather than resume operations.

Question 2

What rank will Petra Diamonds’ secured creditor claims have in Finsch’s asset-sale proceeds?

Accepted Answer

In the distribution of proceeds from asset sales, the secured creditor’s claims (including post-commencement funding) are ranked highest.

Question 3

Did Petra suspend further capital expenditure at the Finsch Mine after reviewing capex in May 2026?

Accepted Answer

Petra’s management was reviewing operating and capital spend at the Finsch Mine and was considering suspending further capital expenditure, with the assessment expected to be finalised in May 2026 but possibly taking longer.

Question 4

How did Petra Diamonds manage workforce reductions at the Finsch Mine during business rescue?

Accepted Answer

Petra said a skeleton workforce will conduct reclamation for a defined period, with that workforce managed under Section 189 of South Africa’s Labour Relations Act.

Question 5

What formal process did Petra Diamonds initiate at Finsch?

Accepted Answer

Petra Diamonds initiated a formal business rescue process at Finsch and intends to appoint a Business Rescue Practitioner to take custodianship of the operation.

Question 6

What were Petra Diamonds' realised tender prices at Cullinan and Finsch in April–May?

Accepted Answer

Petra Diamonds reported realised tender prices in April–May of approximately $81/ct at Cullinan (versus c. $109/ct in Q3) and approximately $47/ct at Finsch (versus c. $56/ct in Q3).

Timeline

Petra Diamonds

Petra Diamonds creditors approve Finsch asset sale plan

Petra Diamonds suspends Finsch mine production as business rescue gets under way

Petra Diamonds starts business rescue at Finsch

Petra suspends Cullinan full‑year carat guidance after pivot to higher‑value Type‑II stones

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