Petra Diamonds Limited announces the recovery of a 121.26 carat white diamond at the Cullinan mine in South Africa. The stone is a Type II diamond of exceptional colour and clarity, and is an outstanding example of the large, high quality diamonds for which the mine is known – see the ‘Notes to Editors’ section for more information.
The diamond will be sold in the last tender of Petra’s 2016 financial year, which is currently underway in Johannesburg. This, along with a number of other high quality stones that will also be included in the tender, will deliver an improved product mix at the mine in the last quarter of FY 2016.
The Company has interests in six producing operations: four underground mines in South Africa (Finsch, Cullinan, Koffiefontein and Kimberley Underground), extensive tailings operations in Kimberley (via its interest in the Kimberley Mines) and one open pit mine in Tanzania (Williamson). It also maintains an exploration programme in Botswana.
Petra has a core objective to steadily increase annual production to ca. 5 million carats by FY 2019. The Group has a significant resource base of ca. 300 million carats.