Business
Increase in Koffiefontein
Increase in Koffiefontein.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n RNS Number : 7742X Petra Diamonds Ld 13 December 2010 \n \n\n \n \n \n\n\n\n\nFor immediate release\n\n\n13 December 2010\n\n\n\n\nAIM: PDL\n\n\n\n\n\n\n\n \n \nPetra Diamonds Limited\n(\"Petra\" or the \"Company\")\n \nIncrease of effective interest in Koffiefontein mine to 74%\n \n \nPetra announces that it has, with effect from 10 December 2010, increased its effective interest in the Koffiefontein mine in South Africa (\"Koffiefontein\") from 70% to 74%.\n \nThe additional 4% interest in Koffiefontein was acquired from the shareholders of Re-Teng Diamonds (Pty) Limited, Petra's black economic empowerment partners (\"BEE partners\") at Koffiefontein; the interests in Koffiefontein are now Petra 74%, BEE partners 26%.\n \n \n \nFor further information, please contact:\n \n\n\n\n\nCathy Roberts\n\n\nTelephone: +44 20 7318 0452\n\n\n\n\nPetra Diamonds, London\n\n\[email protected] \n\n\n\n\n \n\n\n\n\nBobby Morse / Katharine Sutton\n\n\nTelephone: +44 20 7466 5000\n\n\n\n\nBuchanan Communications\n\n\[email protected]\[email protected]\n\n\n\n\n \n\n\n\n\nRyan Gaffney / Andrew Chubb\n\n\nTelephone: +44 20 7050 6500\n\n\n\n\nCanaccord Genuity Limited\n(NOMAD and Joint Broker)\n\n\[email protected] \[email protected]\n\n\n\n\n \n\n\n\n\nJoshua Critchley / Martin Eales\n\n\nTelephone: +44 20 7653 4000\n\n\n\n\nRBC Capital Markets\n(Joint Broker)\n\n\[email protected]\[email protected] \n\n\n\n\n \n~ Ends ~\n \n\n\nAbout Petra Diamonds\nPetra Diamonds is a leading independent diamond mining group and an increasingly important supplier of rough diamonds to the international market. The Company offers a unique growth profile within the diamond sector, with a core objective to double annual production to around two and a half million carats by FY 2014 and more than treble production to over three million carats by FY 2019. Beyond this target, the Group's major resource base of 261 million carats provides scope for further organic growth going forward.\n \nPetra has a well-diversified portfolio, with interests in seven producing mines: six in South Africa (Cullinan, Koffiefontein, Kimberley Underground, Helam, Sedibeng and Star) and one in Tanzania (Williamson). ...