Petra Forced to Halt Production in South Africa

RAPAPORT... Petra Diamonds has had to put operations on hold at itsthree South African mines, due to a restriction on power usage enforced by the local electricity provider. Eskom has told the miner to limit its power usage to "essential loads," Petra said Monday. As a result, Petra has halted production, hoisting and processing at its Cullinan, Finsch andKoffiefontein deposits, and removed all underground workers not needed for essential services. The electric company will only allow Petra to use power forpumping and ventilation to prevent flooding and maintain safety atthe sites, the miner noted. "Petra will update the market as soon as it receives furthernotification as to how long the load curtailment will last, and therefore whatimpact this is likely to have upon the company's production performance," itadded. Petra's share price has dropped 8% in early trading Tuesday. Image: The Finsch mine in South Africa. (Petra Diamonds)