
Petra Diamonds has announced that it has entered into an agreement to acquire the Finsch diamond mine in South Africa from De Beers.
Finsch is one of the world’s major diamond mines and South Africa’s second largest diamond mine by production. Petra said its acquisition marked a continuation of the company’s strategy to build a world-class diamond mining group.
Finsch will become Petra’s second major mine producing over one million carats per annum (mctpa), and will become its eighth producing diamond mine.