39 carat blue diamond placed

RNS Number : 2158F

Petra Diamonds Ld

07 October 2008

 



7 October 2008

AIM: PDL

Petra Diamonds Limited

39 carat blue diamond placed on tender

Petra Diamonds Limited ('Petra' or 'the Company') is delighted to announce that a 39.19 carat special blue diamond is included in the Company's tender in Johannesburg, South Africa. It is currently available for buyers to view at the offices of SADIAMEX (Meyer Diamonds), in the Diamond Centre in Johannesburg, South Africa.

This rare stone was produced from the Cullinan mine in South Africa, which is renowned as the world's only significant source of highly prized blue diamonds. 

For further information, please contact:
Cathy Malins	Telephone: [phone]
Petra Diamonds, London	[e-mail]
Corporate Communications
Greg Stephenson	Telephone: [phone]
Petra Diamonds, South Africa	[e-mail]
Diamond Marketing

Media relations:

Julian Walker	Telephone: [phone]
Hogarth Partnership, London	[e-mail]
Charmane Russell	Telephone: [phone]
Russell and Associates, Johannesburg	[e-mail]

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About Petra Diamonds

Petra Diamonds is an international diamond mining group with a balanced portfolio combining major producing mines and world class exploration assets.  With operations in South Africa, Angola, Botswana, Sierra Leone and Tanzania (following completion of the acquisition of the Williamson Diamond Mine in October 2008), Petra's objective is to continue to grow production, developing its stature as a leading diamond producer in all of the countries in which it operates. 

In South Africa, Petra currently has five producing mines - Cullinan, Koffiefontein, Helam, Sedibeng and Star.  The Group has also reached agreement to acquire two further assets from De Beers - the Kimberley Underground mines, also in South Africa, and the Williamson mine in Tanzania.  The group is on track to increase its annual production from 200,000 carats in the year to June 2008 to over 1 million carats in the year to June 2009.

  Complementing the Group's production is an exploration and development portfolio spread across some of the world's most prospective diamond fields. In Angola, Petra is developing the world class Alto Cuilo and neighbouring Luangue projects. In Botswana, Petra has established the largest diamond exploration landholding in the country, where it believes that modern exploration techniques will hold the key to the discovery of new, major kimberlites. In Sierra Leone, Petra is developing a fissure operation with its JV partner Stellar Diamonds and test work to date indicates the potential for economic operations.

The Petra group now employs some 4,000 people and over the last 10 years the Company has developed a range of social initiatives which continue to make a meaningful impact upon the lives of employees and surrounding communities.  Petra's focus remains upon sustainable development, via educational programmes and skills transfer, to ensure a broad based approach with a lasting legacy, and all operations are carried out with the highest regard for the environment according to best practice.

Petra will only commit to working in countries which are members of the Kimberley Process and shareholders can remain assured that Petra's diamonds will only ever be 100% conflict free.

 

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