Industry News by Nemesis

Petra Recovers 425.10 Carat Diamond at Cullinan Mine

April 6, 2019

 

Petra Diamonds has recovered a 425.10 carat D colour Type II gem quality diamond at its Cullinan diamond mine, in South Africa. 


This follows the recovery of a 100.83 carat D-Colour Type II gem quality diamond from the same mine earlier this month.  


The company said the recovery further demonstrates the prevalence of these types of stones in the Cullinan orebody as well as the ability of the mine’s plant to recover the full spectrum of diamonds. 


Petra had been desperate to recover big stones to boost its revenues and pay a swelling debt. 
Debts from the Cullinan mine were said to be around 65% of Petra’s overall $650 million in borrowing. 


The miner borrowed heavily to revamp the mine and began mining a new section of ore last July.    

 

Image credit: Petra Diamonds

 

Source: Rough&Polished

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