De Beers offloads another mine to Petra

This is the fourth mine Petra Diamonds has bought from De Beers since buying Cullinan, Kimberley Underground and Koffiefontein. As a smaller outfit, Petra Diamonds can mine and manage ageing deposits more economically.

De Beers has opened two new mines in Canada and one in South Africa.
The Managing Director of the De Beers Gareth Penny explained: "The sale of our shareholding in Williamson Diamonds is part of our on-going drive to position De Beers for long-term growth by reviewing our portfolio of mining assets and focusing on those with the best strategic fit.