Petra Diamonds Limited Recovery of 20.08 carat Type IIb blue diamond (3257N)

TIDMPDL

RNS Number : 3257N

Petra Diamonds Limited

23 September 2019

 
 23 September 2019      LSE: PDL 
 

Petra Diamonds Limited

("Petra," the "Company" or the "Group")

Recovery of 20.08 carat Type IIb blue diamond at Cullinan Diamond Mine

Petra Diamonds Limited is pleased to confirm that it has recovered an exceptional 20.08 carat blue gem quality Type IIb diamond from the Cullinan Diamond Mine.

Today's recovery not only demonstrates the quality of Petra's asset base, as the Cullinan diamond mine remains a significant source of rare blue diamonds, but it again confirms the prevalence of exceptional stones in the Cullinan orebody as well as the ability of the mine's plant to recover the full spectrum of diamonds.

The Company will report production and sales results for the quarter ending 30 September 2019 on Monday 21(st) October.

A photo of the 20.08 carat stone can be found at www.petradiamonds.com/media/image-library/diamonds.

Ends

For further information, please contact:

   Petra Diamonds, London                                         Telephone: [phone] 

Cathy Malins

Des Kilalea

Marianna Bowes [e-mail]

Buchanan Telephone: [phone]

(PR Adviser)

   Bobby Morse                                                              [e-mail]. 

Ariadna Peretz

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson). Petra also conducts a limited exploration programme in Botswana and South Africa.

Petra's strategy is to focus on value rather than volume production by optimising recoveries from its high-quality asset base in order to maximise their efficiency and profitability. The Group has a significant resource base of ca. 250 million carats, which supports the potential for long-life operations.

Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. The Company aims to generate tangible value for each of its stakeholders, thereby contributing to the socio-economic development of its host countries and supporting long-term sustainable operations to the benefit of its employees, partners and communities.

Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL' and is a constituent of the FTSE4Good Index. The Company's US$650 million loan notes due in 2022 are listed on the Global Exchange market of the Irish Stock Exchange. For more information, visit www.petradiamonds.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

UPDEAANDALPNEFF

(END) Dow Jones Newswires

September 23, 2019 09:00 ET (13:00 GMT)