Name of the Project
Cullinan C-Cut Phase 1 expansion programme.

Location
Gauteng Province, South Africa.

Project Owner/s
Petra Diamonds (74%), Kago Diamonds (14%) and the Itumeleng Petra Diamonds Employee Share Trust (12%).

Project Description
The Cullinan diamond mine is renowned as a source of large, high-quality gem diamonds, including Type II stones, and is the world’s most important source of very rare blue diamonds.

As at October 2019, the project had proven and probable reserves of 45-million tonnes at 39.2 carats per hundred tonnes (cpht) for 17.67-million tonnes of contained diamonds. Total resources were estimated at 403.6-million tonnes at 38.4 cpht for 154.88-million tonnes of contained diamonds.

The C-Cut Phase 1 project plans to capitalise on the mine’s resource base.

Production from the C-Cut cave has been largely concentrated in the south-western area, which covers about 25% of the C-Cut footprint and has produced 75% of the ore to date.

Cullinan’s C-Cut and the CC1 East, contribute more than 70% of the mine’s carats.

Capital Expenditure
Not stated.

Planned Start /End Date
Not stated.
 
Latest Developments
Petra has reported that Cullinan’s capital expenditure for 2020 financial year is weighted to the first half, with $12-million spent on the installation of the remaining drawpoints in the C-Cut.

In the 2020 financial year the C-Cut Phase 1 is planned to contribute about 3.5-million tonnes and 500 000 t to 700 000 t will be sourced predominantly from the CC1 East and remnant B-Block areas at the project.

Contact Details for Project Information
Petra Diamonds, email investorrelations@petradiamonds.com.