Petra Diamonds uncovers extremely rare 20.08 carat blue diamond at Cullinan mine

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    Petra Diamonds, blue diamond from Cullinan Mine, South Africa

    This week Petra Diamonds announced they’d recovered a 20.08 carat blue diamond from their Cullinan Mine. Cullinan is Petra’s flagship mining operation and is located in Gauteng Province in South Africa. The mine was acquired by Petra in 2008, and has been subject to a significant investment operation since acquisition.

    The Cullinan mine has a history of producing rare and valuable gems, several from the mine are included within the crown jewels owned by the British royal family.

    Petra have stated that the find justifies both the investment in the mine and the ability of the mine’s plant to recover the full spectrum of diamonds.

    The company has announced a value of the diamond, but will be reporting production and sales results for the quarter ending 30th September on Monday 21st October.

    About Petra Diamonds Limited

    Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson). Petra also conducts a limited exploration programme in Botswana and South Africa.

    Petra’s strategy is to focus on value rather than volume production by optimising recoveries from its high-quality asset base in order to maximise their efficiency and profitability. The Group has a significant resource base of ca. 250 million carats, which supports the potential for long-life operations.

    Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. The Company aims to generate tangible value for each of its stakeholders, thereby contributing to the socio-economic development of its host countries and supporting long-term sustainable operations to the benefit of its employees, partners and communities.

    Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker ‘PDL’ and is a constituent of the FTSE4Good Index. The Company’s US$650 million loan notes due in 2022 are listed on the Global Exchange market of the Irish Stock Exchange. For more information, visit www.petradiamonds.com.

    Disclaimer
    MiningIR host a variety of articles from a range of sources, our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.

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