Revenue Slump as Petra Defers Sales
Petra reported a revenue slump for Q1 2025 after deferring the sale of almost all its South African goods because of persistent weak demand.
Cullinan diamond mine
Collection of Blue Diamonds to Fetch Over $70M
Sotheby’s will sell a group of eight fancy-blue diamonds from De Beers across its global Magnificent Jewels auctions, expecting the set to bring in more than $70 million. The stones are cut in various shapes and range from 1.22 to 11.29 carats, with a total weight of 32.09 carats, Sotheby’s said last week. The polished … Read more
Petra Diamonds in Partnership Deal With Stargems on White And Blue Diamonds
Petra Diamonds Limited has sold a 342.92 carat Type IIa white diamond and an 18.30 carat Type IIb blue diamond, both recovered at the Cullinan Diamond Mine in South Africa. The stones have been sold into a partnership with Stargems (Pty) Ltd. Petra will receive an upfront payment of US$10.0 million for the 342.92 carat … Read more
Petra Diamonds finds 342-carat rough at Cullinan mine
South Africa’s Petra Diamonds has recovered a 342.92-carat Type IIa white rough at its iconic Cullinan mine. The company said the diamond is “exceptional” quality, in terms of both its colour and clarity, and that it will likely be sold at the September tender. Petra fetched in March $12.2 million for a 299.3-carat Type IIA … Read more
Blue rough diamond fetches $40 million
Petra Diamonds Ltd. sold a 39.3-carat blue gem for more than $40 million, making it one of the most expensive rough diamonds ever. The small miner sold the exceptional Type IIb blue diamond to a joint venture between top producer De Beers and Diacore, a trading company owned by the billionaire Steinmetz family, it said … Read more
Petra sells 299 carat diamond for $12.18 million
Petra Diamonds has sold a 299.3 carat diamond recovered in January at its iconic Cullinan mine, in South Africa, to Belgium-based Stargems DMCC for $12.18 million. The exceptional Type 11a white gem-quality rock achieved a price of $40,701 per carat, which exceeds the $34,386/ct received for the 424.89 carat “Legacy of the Cullinan Diamond Mine” … Read more
De Beers Buys Petra Blue Diamonds for $40M
De Beers has purchased five rough blue diamonds from Petra Diamonds for more than $40 million in partnership with one of its sightholders. The miner bought the Letlapa Tala collection together with South African wholesaler and manufacturer Diacore for $40.4 million, split equally between the two companies. The type IIb stones, which originated from Petra’s … Read more
Rare Rough Blue Diamonds
Recovered from the famous Cullinan Mine in South Africa, these blue diamonds are among the world’s most expensive Five blue diamonds have been recovered from Petra Diamonds’ famous Cullinan mine in South Africa. They are among the world’s most expensive diamonds, and were formed deep within the Earth about 400 miles below the surface, which … Read more
Petra to sell blue diamonds recovered at Cullinan
Petra Diamonds (LON: PDL) announced the launching of a special tender process for the Letlapa Tala Collection, which comprises five blue diamonds sourced from the Cullinan mine in South Africa. Cullinan is known as the world’s most important source of blue diamonds, as well as being the place of birth of the 3,106-carat Cullinan diamond, … Read more
Petra Diamonds shares fall on debt for equity deal
Petra Diamonds has abandoned plans to sell the business in favour of a debt-for-equity restructuring, it said on Tuesday, sending its shares lower because of the deal’s dilutive effect on existing stakeholders. The London-listed company, which mines diamonds in South Africa and Tanzania, had put itself up for sale in June as part of the … Read more