Petra Diamonds Finalizes Koffiefontein Mine Sale

Petra Diamonds (GB:PDL) has released an update.

Petra Diamonds Limited has announced the unconditional sale of Blue Diamond Mines to Koffiefontein Holdings, an affiliate of the Stargems Group, which is expected to be finalized by the end of October 2024. This strategic move will save Petra from incurring $15-18 million in closure costs and ensure continued economic activity at the Koffiefontein mine under new ownership. The company highlights its commitment to responsible mining and stakeholder value, underpinned by a focus on high-quality asset efficiency.

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