2010 Financial year highlights

  • Group revenue: US$163.7 million
  • Profit from mining activity: US$67.2 million
  • Gross production up 6% to 1,164,856 carats
  • 507 carat Cullinan Heritage diamond sold for US$35.3 million
  • Raised US$120 million in equity fund raising
  • Increased ownership in Cullinan mine from 37% to 74%

Making history - the Cullinan Heritage

In September 2009, the Cullinan mine once again captivated the world with the recovery of an extraordinary white diamond weighing 507 carats, named the Cullinan Heritage to reflect the date of its recovery on Heritage Day in South Africa.

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Chairman's statement


“Dear Shareholder, It is my pleasure to introduce Petra’s 2010 Annual Report and Accounts and to give an overview of the Group’s strategy and business outlook.” Adonis Pouroulis, Chairman

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CEO's review


“I am delighted to provide a review of a remarkable year in which we recorded a profit after tax of US$70.2 million for the year to June 2010.” Johan Dipenaar, CEO

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Results & financial review

The superior asset and production growth that Petra has recorded in the last few years has now translated into financial results.

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Reserves & resources

The Petra Group controls one of the world’s largest diamond resources and careful management of this resource will ensure sustainable, long-life mining for many years.

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Sustainable development

Sustainability is very important to The Petra Group, which now encompasses over 3,700 people in South Africa, Tanzania and Botswana, and as such is a significant employer in Africa.

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Petra Diamonds
2010 Annual Report cover image

The watercolor used on the cover of the 2010 Annual Report, entitled ‘Open Pit Scene of Premier Mine’, was painted by Jacob Hendrik Pierneef (1886 – 1957), one of the most celebrated of the old South African masters, when he stayed in Cullinan in 1932.

It is rumoured that this painting was given to the mine by the artist at the time in exchange for board and lodgings.

His work can now be seen worldwide in many private, corporate and public collections.