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Petra Diamonds is a leading supplier of rough diamonds, with a major resource base of 262 million carats. The Company offers a unique growth profile within the diamond sector, with a core objective to treble annual production from just over 1 million carats in the year to June 2010 to over 3 million carats.
20 July 2010
Revenue jumps 88%
Petra Diamonds Limited announces the following sales and production trading update (unaudited) for the year ended 30 June 2010. Read...
This has been a highly progressive year for the Company, during which Petra has:
- increased its ownership of the Cullinan mine to 74%, thereby doubling Cullinan’s attributable production and increasing Petra’s attributable resource base from all operations to 195 million carats (gross: 262 million carats);
- completed the acquisition of a further important producing diamond mine - Kimberley Underground;
- sold the remarkable 507 carat Cullinan Heritage diamond for US$35.3 million; and
- raised US$120 million in an equity financing.
Left: The 507 carat Cullinan Heritage diamond sold for US$35.3 million.
Questor share tips: Petra Diamonds sparkles as market recovers
21 July 2010
[Telegraph - Questor column] The diamond market has recovered from the global recession, according to Petra Diamonds, with prices close to the level they were in June 2008. Full release...
Diamond industry back in fashion - love the investment
10 June 2010
[Financial Mail] Diamonds have always attracted controversy – from under–the–counter dealings that were rife in the Northern Cape for decades to De Beers’ “monopoly activity” to the way the gemstones financed conflict in Sierra Leone in the late 1990s, as portrayed in the movie Blood Diamond. Full release...
Cullinan
- 74% interest held
- World’s second largest diamond resource of 204.6m carats
- Source of the Cullinan, the world’s largest diamond ever found, a quarter of all the world’s diamonds over 400 carats in size, and highly prized blue diamonds
- Production ramping up from 1m carats pa to 2.6m carats pa
This first annual Sustainable Development Report covers Petra's impact and initiatives in the social, economic and environmental areas of society, and covers the 2009 financial year.
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