Email Alerts Contact ABOUT US OUR OPERATIONS OUR INDUSTRY SUSTAINABILITY INVESTORS MEDIA CAREERS Home / About Us / Our Heritage / Our History Our History Petra has transformed from its origins as a diamond exploration junior to a leading independent diamond producer Since listing on AIM in 1997, Petra has grown significantly from a junior diamond explorer with a market capitalisation of less than £10 million to a leading independent diamond mining group, quoted with a premium listing on the Main Market of the London Stock Exchange. Through the acquisition of diamond mining assets that were non-core to De Beers, Petra has amassed interests in four producing operations (three in South Africa and one in Tanzania), with a major resource base of ca. 250 million carats. Petra’s strategy is to focus on value rather than volume production by optimising recoveries from its high quality asset base in order to maximise their efficiency and profitability. 1997 Petra listed on AIM with a market capitalisation of <£10 million. 1998 Petra made new kimberlite discoveries in Angola – over the coming years, a sizeable kimberlite field was identified in Alto Cuilo. 2004 Petra entered into a joint venture with BHP Billiton to continue exploration at Petra’s Angolan projects. 2005 Petra merged with ASX-quoted Crown Diamonds, introducing three producing diamond mines to the Group (the Fissure mines: Helam, Sedibeng and Star). Petra acquired Kalahari Diamonds (exploration arm in Botswana). 2007 Petra acquired a majority interest in the Koffiefontein mine in South Africa. 2008 Petra acquired an initial 37% interest in the Cullinan mine in South Africa. Petra withdrew from exploration activities in Angola further to the global economic downturn and a strategic decision to focus on cash generative production. 2009 Petra acquired a majority interest in the Williamson mine in Tanzania. Petra raised US$120 million via an equity fundraising – the new funds enabled Petra to increase its ownership in Cullinan to 74%. 2010 Petra’s annual production rose to over 1 million carats. Petra acquired a majority interest in the Kimberley Underground mine in South Africa. 2011 Petra raised US$325 million via an equity fundraising. The majority of the funds raised were used to acquire a majority interest in the Finsch mine in South Africa. Petra stepped up from AIM to the Main Market of the London Stock Exchange. 2012 Petra’s production doubled to 2.2 million carats. 2013 Petra’s production increased to 2.7 million carats. 2014 Petra divested of the fissure mines Sedibeng and Star, which were no longer core to the Group’s portfolio; the Helam mine commenced a process to be placed on care and maintenance. Petra’s production increased to 3.1 million carats. 2015 Petra raised US$300 million through an inaugural senior secured second lien Loan Notes Issue. Petra’s production increased to 3.2 million carats. Petra paid a maiden dividend 3.0 US cents per share. 2016 Petra acquired a 49.9% interest in the Kimberley Mines in South Africa. Petra combined its operations in Kimberley with those of Ekapa Mining via the formation of the Kimberley Ekapa Mining Joint Venture. Petra’s production increased to 3.7 million carats. 2017 Petra refinanced and rationalised its debt profile by raising US$650 million through a senior secured second lien Loan Notes Issue. Petra’s production increased to 4.0 million carats. 2018 Petra completed a Rights Issue to raise US$178 million Petra’s annual production increased to 4.6 million carats (3.8 million carats excluding KEM JV) Petra completed the disposal of its 75.9% interest in the KEM JV in December 2018 2019 Petra’s annual production from continuing operations increased to 3.9 million carats Launch of artisanal small scale mining (“ASM”) initiative at the Koffiefontein mine 2020 Petra’s annual production decreased to 3.6 Mcts, due to the disruption to operations caused by the outbreak of the COVID-19 pandemic Petra reached agreement to dispose of its exploration assets in Botswana in July 2018 2021 Petra completed a capital restructuring and 8,844,657,929 New Ordinary Shares were admitted to trading on the London Stock Exchange’s main market for listed securities. Petra sold an exceptional Type IIb blue diamond recovered at the Cullinan diamond mine for US$40.2 million, or US$1,021,357 per carat; the highest price per carat Petra has achieved for a single stone FOLLOW US Join the conversation on our social media channels linkedin twitter facebook instagram Site map rss Contact Disclaimer Accessibility Privacy Cookies Policy Email Alerts © Petra Diamonds Limited