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By
Reuters
Published
Dec 1, 2015
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Petra Diamonds, Ekapa Mining buy De Beers' Kimberley mines

By
Reuters
Published
Dec 1, 2015

Petra Diamonds Ltd and South African mining company Ekapa Mining would buy De Beers' Kimberley mines for 102 million rand ($7.1 million), the London-listed miner said.

Petra Diamonds


Petra Diamonds, which owns the historic Finsch and Cullinan mines, said it would own a 49.9 percent interest in the mine, while Ekapa will hold the rest.

Petra's purchase is the latest in a string of acquisitions by the company of De Beers' mines. Its Finsch, Cullinan and Koffiefontein mines were all previously owned by Anglo American's De Beers.

Shares in Petra were up 6 percent at 67.9 pence on the London Stock Exchange at 0840 GMT, and were the second-largest gainers on the FTSE Midcap Index

De Beers, which has been mining at Kimberley for more than a century, put the operations up for sale in May.

$1 = 14.4189 rand


 

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