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Diamond mining and diamond synthesis: Which is more efficient?

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The success of TAGS over the past 5 years has encouraged many large tender houses to establish regular and sizeable tender operations in Dubai

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It all starts with stones - it is they that give impetus, determine the image and embodiment

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‘Our technologies – CVD machines and growing technology – are game changers’, asserts Arnaud Flambeau, Executive Chairman, 2DOT4 Diamonds LLC

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31 october 2022

Petra completes disposal of interest in Kimberley Ekapa Mining JV

07 december 2018

petra_diamonds_logo.pngPetra Diamonds said it has completed the disposal of its 75.9 percent interest in the Kimberley Ekapa Mining Joint Venture (KEM JV) to Ekapa Mining for R300 million.
KEM JV was a joint venture between Petra and its partner Ekapa Mining and incorporated the Kimberley underground mine, extensive tailings retreatment programmes as well as the high volume central treatment plant in Kimberley, South Africa.
“The completion of the disposal is in line with the company’s strategic priorities which include the ongoing review of the asset portfolio in order to maximise return on capital and ensure that all assets are in a position to contribute positive cash flow to the business,” said Petra chief executive Johannes Dippenaar.
The terms of repayment of the R300 million purchase consideration, originally to be payable in 24 monthly instalments starting in January 2019, had been amended to allow Ekapa Mining to maximise the prospects of the financial viability of the operation.
The company recorded an attributable loss on discontinued operations of $104.3 million relating to the reclassification of KEM JV as a discontinued operation in the Company’s results for the year ended 30 June 2018.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished