SOUTH AFRICA
DIAMOND JEWELLERY

SIGNATURE DIAMONDS & JEWELLERY
   
Petra Diamonds
Among diamond mining companies, Petra Diamonds Ltd is a leading name. The company has a very wide-ranging portfolio, they operate mines in South Africa and Tanzania and an exploration program in Botswana. Petra Diamonds focuses on several aspects ranging from exploration to production. This makes it among the greatest standalone producers of diamonds across the African continent. It was in June 2012, when Petra started to possess 5 of the world's most productive mines. These mines include the Cullinan Diamond Mine famed for having produced the world's largest rough and polished diamond. Petra finds itself listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

This company was started by Adonis Pouroulis. This was in the year 1997. This company also got listed on the Alternative Investment Market later that year. It transferred to the Main Market in December 2011.

Petra Diamonds' operations are concentrated in Africa. Here it produces roughly 60% of the world's diamonds. It owes its growth and expansion mostly owing to acquisitions of five mines in South Africa and Tanzania from De Beers. They focus their exploration activities in Botswana. This is because Botswana happens to be the world's largest diamond producer by value. Not only this, it also has 2 of the world's biggest diamond mines. The names are Orapa diamond mine and Jwaneng diamond mine.

Petra Diamonds operates as many as seven diamond mines in South Africa. These can be divided in two categories: there are the underground kimberlite pipe mines such as Cullinan, Finsch, Koffiefontein and Kimberley and the Fissure Mines such as Helam, Sedibeng and Star. This company has a record of converting De Beers' unprofitable South African mines into financial triumphs. According to the Chairman of De Beers Nicky Oppenheimer, the reason for this was that De Beers were operating the mines with a very large cost structure. Petra was not going to operate that way. This is how the problem was solved.

Kimberley Underground is made up of three kimberlite pipe mines that are all near each other. These are Bultfontein, Dutoitspan and Wesselton. These three large mines were totally integral to South Africa’s economic development. Their output effectively financed development of the nascent gold industry. They are currently mining at depths of between 845 and 995 metres below the earth’s surface. These mines have had a history of producing very large diamonds and lovely yellows, such as the Oppenheimer Diamond. The largest diamond recovered at Kimberley Underground was over 800 carats! These mines were closed by De Beers. This was in the year 2005. Ever since this, Petra operated Kimberley Underground under care and maintenance from September 2007.

The Fissure Mines were acquired by Petra when it merged with Crown Diamonds N. This took place in May 2005. This introduced producing assets to what had previously been an exploration company.
SOUTH AFRICAN
DIAMONDS & JEWELLERY