Petra Diamonds is pleased to announce that Ministerial consent in terms of Section 11 of the Mineral and Petroleum Resources Development Act, 2002 (“MPRDA”) has been granted for the cession and transfer of the new order mining right for the Finsch diamond mine in South Africa (“Finsch”) from De Beers Consolidated Mines Limited (“De Beers”) to Afropean Diamonds (Pty) Limited (”Afropean”).
Afropean represents Petra’s interests in Finsch; Afropean being owned as to Petra 74% and Petra’s Black Economic Empowerment partners 26%.
