Cullinan mine, South Africa

An underground diamond-mine, situated in Gauteng.

A brief history of the Jagersfontein diamond mine

The history of diamond mining in South Africa has largely been dominated by the narrative of the discovery and development of the De Beers and Kimberley diamondiferous kimberlite pipes and, to a lesser extent, the Bultfontein and Dutoitspan...

Diamond demand overtaking diamond supply

Demand for diamonds is overtaking supply, as the number of low-grade orebodies increase, and diamond-mining group Petra Diamonds CEO Johan Dippenaar believes that, as a result, supply will become more difficult to maintain at historic volumes.

Petra moves to accelerate growth plans as gem market improves

Aim-listed Petra Diamonds said on Monday that it would seek to fast-track expansion plans to take advantage of a markedly improved diamond market, where demand is being buoyed by emerging market growth. The diamond producer had previously planned...

Petra concludes $83,5m IFC, RMB debt facilities

JSE- and Aim-listed Petra Diamonds has concluded debt facilities worth $83,5-million with the International Finance Corporation (IFC) and Rand Merchant Bank (RMB), it said on Thursday. The company initially announced its intention to secure debt...

Petra signs $78m loan agreements with RMB and IFC

JSE- and Aim-listed Petra Diamonds' on Wednesday inked final loan agreements with Rand Merchant Bank (RMB) and the World Bank's International Finance Corporation (IFC) to secure new debt facilities of $78-million. The company said in a statement...

Petra Diamonds on track to double production to 2,5m carats 2014

Expansion plans were on track for Petra Diamonds to more than double production to more than 2,5-million carats by financial year (FY) 2014 and more than triple production by FY 2019, Petra CEO Johan Dippenaar said on Monday. The London...

Petra boosts diamond output, sees 'strong' market recovery

JSE- and Aim-listed Petra Diamonds' production increased by 6% to 1,16-million carats in the year ended June 30, 2010, compared with the 1,09-million carats produced the year before. Diamond sales were up by 11% to 1,13-million carats, compared...

Petra agrees $78m debt facility to fund mine expansions

London-listed Petra Diamonds said on Wednesday that it had agreed a new debt facility of $78-million, which it would use to fund expansions at its Williamson mine, in Tanzania, and its Cullinan mine, in South Africa. Petra Diamonds CEO Johan...

Petra sells 507-ct diamond for record $35m

The 507,5 ct Cullinan Heritage diamond has been sold for a record $35,3-million, the highest sale price ever recorded for a rough diamond. JSE-and LSE-listed Petra Diamonds on Friday reported that it had sold the diamond, at a tender held in...

Petra posts $38m profit as output rises, prices recover

JSE-and Aim-listed Petra Diamonds has swung its financial position around, recording a $37,9-million net profit for the six months ended December 31, 2009, compared with a net loss of $88-million in the first half of the previous financial year....

Petra appoints Al Rajhi’s Kamal to board

Aim-listed Petra Diamonds has appointed Dr Omar Kamal, the MD of its largest shareholder, Al Rajhi Holdings, as nonexecutive director. The diamond-miner on Wednesday noted that this followed on Petra’s 2009 agreement with Al Rajhi to acquire...