10th Dec 2019 17:32
(Alliance News) - Petra Diamonds Ltd on Tuesday said it has restarted operations in South Africa, which are currently running at a 20% load curtailment, in line with requirements.
The move follows the downgrade of the load shedding status by troubled state-owned electricity firm Eskom from stage 6 to stage 4, which is expected to remain in place until 2300 SAT Tuesday.
Petra Diamonds said it is used to managing the operations optimally to maintain production levels as much as possible throughout load shedding requests.
"However, the impact of the current load curtailment on the company will depend on the duration and level of severity of the power restriction," the company said in a statement Tuesday.
Petra Diamonds shares closed 8.3% lower in London on Tuesday at 7.70 pence each.
By Evelina Grecenko; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Petra Diamonds