JOHANNESBURG (miningweekly.com) – Africa-focused Petra Diamonds has completed the acquisition of Tanzanian diamond miner Willcroft from De Beers Société Anonyme’s wholly-owned subsidiary Cheviot Holdings.

Willcroft owns 75% of Williamson Diamonds, the owner and operator of the Williamson diamond mine, in Tanzania. The Tanzanian government held the remaining 25% interest.

“Williamson is a world-class diamond mine and we are delighted to be a part of its future,” said Petra Diamonds CEO Johan Dippenaar.

The government initially objected to the deal, saying an agreement with De Beers gave it priority to buy the shares. However, Reuters reported on Wednesday Energy and Minerals Minister William Ngeleja had recommended that Cabinet approve the Petra Diamonds acquisition.

A number of recent acquisitions have established Petra Diamonds as one of the world’s largest independent diamond groups by resources, with a total resource base of 265-million carats.

The company said it was on track to increase its yearly production from 200 000 ct in the year to June 2008, to over one-million carats in the year to June 2009.

In South Africa, Petra Diamonds has five producing mines, and has also reached an agreement with De Beers to acquire the Kimberley Underground mines.

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