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Diamond mining strikes hard times, says producer
Diamond mining junior Petra Diamonds on Friday warned that the diamond mining industry faces difficult times in the year ahead.
Johan Dippenaar
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Petra acquires Cullinan from De Beers for R1bn
De Beers Consolidated Mines, the South African arm of diamond giant De Beers, on Thursday said it had agreed to sell the Cullinan Diamond Mine as a going concern to the Petra Diamonds Cullinan Consortium for a consideration of R1-billion payable in cash.
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Petra aims for 120 000-carat output at Kimberley
London-listed Petra Diamonds aims to reopen South Africa’s Kimberley underground mine in six to 12 months and restore output to 120 000-carats per year, the firm’s chief executive, Johan Dippenaar, said on Friday. The firm would invest about R100-million per year in Kimberley, which it agreed to buy for R78,5-million from De Beers.
