Petra Diamonds Limited
Company Information

Petra Diamonds Limited Company Profile

Petra Diamonds has diamond exploration and production activities throughout southern Africa. The company operates several active mining complexes, located in South Africa, Tanzania, and elsewhere with a resource base of more than 300 million carats. Petra acquired a 37% stake in De Beers' Cullinan mine in South Africa for $150 million in 2008 and doubled that stake the next year. The company's main exploration project is the Kalahari mine in Botswana. In 2010 Petra acquired the Kimberley Underground diamond mines in South Africa. The next year it bought the Finsch project, South Africa's second-largest gem mine, from De Beers for $192 million in a deal that could double its annual diamond production.