Petra Diamonds CEO Richard Duffy has resigned "by mutual agreement and with immediate effect", the company said on Monday.

PETRA Diamonds today announced the resignation of its CEO Richard Duffy ending nearly six – largely difficult – years at the company blighted by poor trading conditions which has forced the UK-listed firm into two rounds of restructuring.

The CEO change came as Petra also reported a 60% drop in earnings for the six months ending December 31. The miner, which owns two diamond mines in South Africa, had adjusted earnings before interest, taxes, depreciation and amortization of $15 million in the period, according to an interim results statement.

Petra Diamonds on Monday said it has appointed joint CEOs to replace Richard Duffy, who has resigned "by mutual agreement and with immediate effect" amid a wider loss of $69 million for the half-year to December 2024.

In a recent announcement on Monday, UK-headquartered Petra Diamonds revealed a significant change in leadership, appointing joint chief executive officers (CEO) to take the helm. This decision follows the resignation of Richard Duffy,