London-listed Petra signs renewable energy supply deal for its SA diamond mines

London Stock Exchange-listed Petra Diamonds is the world’s largest producer of rough diamonds by value and is focused on the highest margin section of the diamond pipeline.

With South African miners susceptible to production disruptions from rotational power cuts by Eskom, Petra Diamonds has turned to independent renewable energy suppliers while also helping to curb emissions from operations.

The company announced yesterday that it had entered into long-term Power Purchase Agreements (PPAs) for the procurement of wheeled renewable energy for its Cullinan and Finsch diamond mines with Etana Energy, a licensed South African energy trader.

Petra Diamond CEO, Richard Duffy, said the agreements signed by the company will see Etana supplying each of Petra Diamonds’ two mines in South Africa with up to 72% of the expected load requirement from 2026 financial year onwards.

“These agreements align with Petra’s renewable strategy and exemplify the Company’s continued integration of its sustainability ambitions,” he said.