Last checked at 14 May 2019 13:56
14 May 2019 | LSE: PDL |
Petra Diamonds Limited
("Petra", "the Company" or "the Group")
Sale of the 424.89 carat 'Legacy of the Cullinan Diamond Mine'
Petra Diamonds is pleased to announce the sale of the 424.89 carat 'Legacy of the Cullinan Diamond Mine' to Stargems Group / Choron ( Belgium ) BVBA for just under $15 million.
This exceptional D colour Type IIa gem mined from the Cullinan C-Cut adds to the most famous diamonds to have originated from this historic mine.
Richard Duffy, Chief Executive Officer, commented on the sale:
'This is a significant sale for Petra Diamonds and an endorsement of the quality not only of the Legacy diamond, but also the Cullinan ore body itself, which is known for its exceptional stones.'
Mr Shailesh Javeri, Chairman of Stargems Group commented:
'The Cullinan Diamond Mine has produced some of the most iconic diamonds the world has ever seen and as a key client of Petra Diamonds we are honoured to have the opportunity to polish the 'Legacy of the Cullinan Diamond Mine'.
Photos of the 'Legacy of the Cullinan Diamond Mine' can be found at www.petradiamonds.com/media/image-library/diamonds.
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For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Marianna Bowes investorrelations@petradiamonds.com
Des Kilalea
Salisha Ilyas
Buchanan Telephone: +44 20 7466 5000
(PR Adviser) pdl@buchanan.uk.com
Bobby Morse
Chris Judd
Ariadna Peretz
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, which is currently under review.
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. 290 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. For more information, visit www.petradiamonds.com.