Petra Diamonds said today that it is withdrawing guidance after scaling down its mines to operate at a minimum level.
The miner is complying with South Africa's directive, a nationwide lockdown to control the spread of COVID-19.
Petra also withdrew from a tender after poor attendance, deteriorating market conditions and opportunistic bids.
"Petra’s fifth diamond sale of FY 2020, with tenders in both South Africa and Antwerp, commenced on Thursday 19 March and was due to close on Thursday 26 March. However, sensing the rapid deterioration of market conditions, particularly due to travel restrictions, factory and retail closures, and the spread of COVID-19 in South Africa, the company brought forward the closure of its South African sale to Monday 23 March," said the company in a news release.


Thread: 
Thanks
Currently Active Users
Forex Forum India Statistics