06 Dec 2022
DiamondWorld Directory
Home |
Petra to acquire Cullinan from De Beers
All transfer procedures are to be complete by July’08
By: Diamond World News Service
Jun 9 2008 2:11PM
Reference: 2702  


Petra Diamonds Limited has acquired the Ministerial consent in respect to the cession and transfer of the Cullinan new order mining right to Cullinan Diamond Mine (Pty) Limited (“CDM”). CDM is wholly owned by the members of the Petra Diamonds Cullinan Consortium (“PDCC”), and represents the interests of PDCC in Cullinan.

Last year on 22 November 2007, PDCC had entered into an agreement with De Beers Consolidated Mines Limited (‘De Beers’) to acquire Cullinan. De Beers had placed a condition that Ministerial consent under Section 11 of The Mineral and Petroleum Resources Development Act was important for the cession of the Cullinan new order mining right to be handed to Petra. With the consent now in place, De Beers is required to transfer the registration of the Cullinan new order mining right into the name of CDM, at the Mineral and Petroleum Titles Registration Office.

The process of acquisition is being carried out as per the defined schedule for July 2008, when Petra (as a member of PDCC) will take over the operation of the mine from De Beers. When the acquisition stands complete, Petra will publish a Cullinan resource statement in accordance with the AIM Guidance for Mining Companies.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 32027
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 9533
GJEPC Chairman Interview
Views: 28132
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 39370
Promo for IJ Awards 2012 at NDTV Profit
Views: 57067
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 68562
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 21882
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 50927
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 53115
Member of:
Supporter of: