Petra Group announces first diamond sales

Petra Group has announced the fist sales of diamonds, after acquiring the Koffiefontein mine from De Beers. Out of the total 16,698 carats sold, 35 stones were more than 10 carats each with a 60.25 carat stone selling for $736,000.

The total sales amounted to $6.85 million, with the average prices being $410 per carat. As Petra Chairman Adonis Pouroulis analyses the group’s performance, “We expect that a similar level of interest in future Koffiefontein sales and prices at this level means that Koffiefontein will contribute far more to Petra's Group turnover than originally anticipated."