Petra Diamonds’ $264 million (R3.8 billion) C-Cut Phase 1 Expansion project is expected to extend the lifespan of the famous Cullinan Mine, one of South Africa’s oldest diamond operations, well beyond its former 2016 closure date at double its production capacity.
Petra Diamonds mining projects manager Andre Cloete says the expansion project is transformational – for Cullinan and Petra Diamonds. “It represents the start of a brand new mine which gives us access to greater volumes of fresh, high grade undiluted ore for at least another 16 years. It is also expected to increase the frequency of recovering ‘big blue diamonds’ while ensuring the mine retains its status as one of Petra Diamonds’ flagship diamond mines well beyond 2016.”
Impressively, Petra Diamonds was able to move the project forward for less than half the original cost forecast by its original owners. The new C-Cut block is expected to reach full production in 2019.
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Source: The Diamond Loupe and Mining Review