A timeline of growth
Petra Diamonds has grown from a junior diamond exploration company into one of the world’s most important independent diamond producers,with over one million carats annual production and over 3,700 employees.
Petra Diamonds merged with ASX quoted Crown Diamonds, introducing production to the Group in the form of three underground Fissure mines (Helam, Sedibeng and Star). The Crown Diamonds group had a then 15 year track record managing underground producing diamond mines.
Petra acquired the Koffiefontein mine from De Beers – Petra’s solid track record of operating the underground fissure mines placed the Company as a forerunner in a highly competitive tender for the mine.
Petra acquired the Cullinan mine from De Beers – again Petra was selected as the winning bidder in a highly competitive bid process.
Petra acquired the Williamson mine from De Beers – introducing the first opencast operation to the Group.
Petra’s annual production rose from 200,287 carats in FY2008 to over one million carats in FY2009.
Petra acquired the Kimberley Underground mines from De Beers, introducing the seventh producing diamond mine to the group.
The Company’s core objective is to double annual production to around two and a half million carats by FY2014 and more than treble production to over three million carats by FY2019, all by organic growth from the existing asset base.
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