pPetra Diamonds Limited has announced that the 507 carat Cullinan Heritage has been sold for US$35.3 million, the highest sale price on record ever achieved for a rough diamond./p
pThe diamond was sold on tender in South Africa and was purchased by Chow Tai Fook Jewellery Company Limited, Hong Kong. The purchaser has not at this [...]
Company News
507 Carat Cullinan Heritage Diamond Sells for US$35.3 Million to Chow Tai Fook of Hong Kong
Africa
Petra Diamonds Expects to Announce Outcome of 507 Carat Cullinan Heritage Tender Shortly; 130 Carat Diamond Recovered at Cullinan in January
Diamond News: The 507 carat diamond that was recovered in September 2009 at the Cullinan diamond mine in South Africa and recently named The Cullinan Heritage is currently on tender and Petra Diamonds expects to announce the outcome of the tender shortly.
The sale of The Cullinan Heritage, due to complete on Friday 26 February, is [...]
Africa
Petra Diamonds Limited Plans to Take Production from 1 Million Carats to 3 Million Carats per Annum by 2019
According to Petra Diamonds Limited unaudited interim results for the six months to 31 December 2009, the company’s gross mine revenue was up 32% to US$62.4 million from US$47.3 million in the second half of 2008. Petra Diamonds’ Group attributable revenue was up 43% to US$48.4 million, against the US$33.8 million recorded in the [...]
Company News
Petra Diamonds Appoints Dr. Omar Kamal as Non-Executive Director; Volker Ruffer Retires
Petra Diamonds Limited is pleased to announce the appointment of Dr. Omar Kamal as non-executive director of the Company with immediate effect. Dr. Kamal is a Managing Director of Al Rajhi Holdings W.L.L. (“Al Rajhi”), Petra’s largest shareholder with 18.1 per cent. of the Company’s issued share capital.
Petra also announces that Volker Ruffer has retired [...]
Africa
Petra Diamonds Unveils The ‘Cullinan Heritage’ 507 Carat Diamond
Diamond News – diamond mining news: Petra Diamonds Limited announces that the 507 carat white diamond has been named The Cullinan Heritage. This spectacular and historic gem has been named to reflect the date of its recovery on Heritage Day in South Africa (24 September 2009), as well as its origins from the illustrious [...]
Africa
Petra Diamonds Says it is Insured for Such Losses After Multi Million Diamond Parcel was Stolen in Transit
Diamond News: Further to our December 25 report on a diamond parcel, containing nearly 15,000 carats of diamond and estimated to be worth nearly $2.9 million, that was stolen during transit to Antwerp, we can disclose the following details:
The diamond parcel, containing just over 14,931 carats of diamonds, was exported by Williamson Diamonds Limited, which is [...]
Africa
Diamond Miner Petra Diamonds Sees Strong Improvement in Diamond Prices
Petra Diamonds Limited is on track to achieve its production target of 1.2 million carats for the 2010 financial year (FY2009 actual: 1,099,367 gross carats), with Group sales and production for the six months to December 2009 period up 43% and 12% respectively on the six months to December 2008. Longer term, Petra’s current expansion [...]
Africa
Petra Diamonds Resumes Operations At Koffiefontein Diamond Mine in South Africa
Further to its announcement of 5 January 2010, diamond miner Petra Diamonds says that full mining operations have this morning recommenced at the Koffiefontein mine in South Africa.
Work was stopped at the mine for 48 hours following a fatality there and therefore diamond production has not been materially impacted.
Africa
Fatality at Petra Diamonds’ Koffiefontein Diamond Mine in South Africa
Petra Diamonds has announced, with deep regret, the death of a worker on Sunday 3 January 2010 at the Company’s Koffiefontein mine in South Africa.
The incident, which occurred at approximately 9.30am in an underground workshop, was equipment related and not due to mining operations. No other employees were injured or endangered in the incident.
Normal underground [...]
Africa
Petra Diamonds: 58 and 53 Carat Cullinan White Diamonds Sold
Petra Diamonds Limited says that the two Cullinan white diamonds of 58 and 53 carats were sold in early November for US$2.8 million. The strong prices achieved bode well for the values that could be realised from the exceptional 507 and 168 carat white diamonds, which were recovered in the same production series at the [...]
Africa
507.55 Carater Recovered At South Africa’s Cullinan Mine; 3 More Large Diamonds Also Recovered
Petra Diamonds Limited has recovered an important 507.55 carat white diamond at the Cullinan mine in South Africa. This spectacular gemstone was recovered on Thursday 24 September and is currently with experts for analysis. Initial examinations indicate that it is of exceptional colour and clarity, and most likely to be a Type II diamond. Further [...]
Africa
Major Shareholder in Petra Diamonds in Assets Freeze
The Cayman Islands-registered Saad Investments Company Limited (SICL), which held 44% of Petra Diamonds as of September 30 2008 according to their website and is one of the main Saad Group companies, has been named as a defendant as part of a US$9.2 billion assets freeze by a Cayman Islands court, reports Reuters.
Reuters explains that [...]
