Company News: Petra Diamonds
Updated: 28 Apr 2010
Petra Diamonds is a leading supplier of rough diamonds, with a gross resource base of 262 million carats. The Company offers a unique growth profile within the diamond sector, increasing its annual production fivefold in the year to June 2009 to over 1 million carats, and with firm plans in place to grow production to over 3 million carats.
In South Africa, Petra has interests in five producing mines – Cullinan, Koffiefontein, Helam, Sedibeng and Star - and has also agreed to acquire the Kimberley Underground mines from De Beers (this acquisition is expected to complete soon). In Tanzania, Petra has an interest in the Williamson mine.
Petra conducts all its operations according to the highest ethical standards, and will only work in countries which are members of the Kimberley Process. The Company is quoted on the AIM market of the London Stock Exchange (AIM: PDL).
Also Known as: Petra
Business Category Exploration; Mining
Regions of Operation Central and East Africa; Southern Africa
Exchange Ticker PDL
Most Recent Investor Series Presentation
Latest Press Releases
20 Jul 2010
Trading Update
Petra Diamonds Limited announces the following sales and production trading update (unaudited) for the year ended 30 June 2010.
02 Jun 2010
Facilities secured for Williamson & Cullinan expansion
Petra Diamonds Limited has agreed terms with IFC (a member of the World Bank Group) and Rand Merchant Bank with regards to new debt facilities of approximately US$78million. The facilities will, together with contributions from Petra’s own treasury, primarily finance the expansions of the Williamson mine in Tanzania and the Cullinan mine in South Africa, as well as giving the flexibility to remove a short term debt obligation from Petra’s balance sheet.
19 May 2010
Completion of Kimberley Underground Acquisition
The completion of the Kimberley Underground acquisition brings a seventh producing diamond mine into Petra’s portfolio and will contribute to the company's goal to more than treble group production to over 3 million carats.
04 May 2010
Divestment of Kono Project, Sierra Leone
Petra Diamonds announces that it has reached agreement with Stellar Diamonds plc to exchange its interest in the Kono Diamond Project in Sierra Leone for shares in Stellar, the project’s joint venture partner.
26 Apr 2010
Cullinan Heritage sells for US$35.3m
The 507 carat Cullinan Heritage sells for US$35.3 million, the highest sale price on record ever achieved for a
rough diamond.
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Most Recent Company News
- Time for change - 06 Aug 2010 11:57am
South Africa's mining industry is passing through a period of considerable change, readjustment and reappraisal Read more... - Results reflect higher diamond prices - 23 Jul 2010 11:58am
Gem Diamonds Ltd and Petra Diamonds Ltd both reported trading updates in the week, highlighting strong per-carat selling prices in the six months to end-June Read more... - Petra secures Kimberley underground - 21 May 2010 10:55am
Petra Diamonds Ltd has completed the purchase of the Kimberley underground mine from De Beers, two and a half years after first announcing the deal Read more... - Stellar buys Kono - 07 May 2010 11:09am
Stellar Diamonds Ltd has bought Petra Diamonds Ltd’s interest in the Kono kimberlite joint venture in Sierra Leone Read more... - Petra sells Cullinan Heritage - 05 Mar 2010 11:38am
Petra Diamonds Ltd has sold the 507ct Cullinan Heritage for US$35.3 million, the highest sale on record ever achieved for a rough diamond Read more... - Petra sells The Cullinan Heritage - 26 Feb 2010 12:55pm
Petra Diamonds Ltd has sold the 507ct Cullinan Heritage stone for US$35.3 million, the highest recorded price ever achieved for a rough diamond. Read more... - Petra on track for 1.2Mct - 25 Feb 2010 1:22pm
Petra Diamonds Ltd has said its mines are on track to meet a total production target of 1.2Mct in the current financial year to end-June Read more... - Petra reports profit ahead of Friday’s big stone sale - 22 Feb 2010 12:47pm
Petra Diamonds Ltd swung back to profit in the half year to end-December 2009, after heavy write-downs contributed to a loss of US$88 million a year earlier. Read more...
Financial Information
Share Holders Al Rajhi Holdings W.L.L.; Saad Investments Company Limited; JP Morgan Asset Management U.K. Ltd; Scottish Widows Investment Partnership; Capital Group International, Inc.; Blackrock Investment (UK) Limited; Directors
Exchanges listed on AIM
Market Cap £280m
Shares Issued 352,597,492
UK Office
- 36 Dover Street
- London
- W1S 4NH
- United Kingdom
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