News Column

Petra Diamonds Says Sale Of Blue Diamond To Start August 18

August 12, 2014

Sam Unsted

LONDON (Alliance News) - Petra Diamonds Ltd Tuesday said the viewing process for the sale of the 122.52 carat blue diamond it recovered from the Cullinan mine in South Africa in June will start on August 18.

The viewing process will be open until September 12, the deadline for offers from prospective buyers.

FTSE 250-listed Petra saw its shares surge back in June after it recovered the diamond. The news came after the company had announced in January that it had recovered a 29.62 carat blue diamond from the same site. It sold the diamond for USD25.6 million in February.

The Cullinan mine, which the company acquired in 2008, is well known as the source of many of the world's most spectacular diamonds, including the two main diamonds in the British Crown Jewels.

Petra shares were up 1.4% to 196 pence on Tuesday

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Source: Alliance News

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