Petra Diamonds to Sell Three South African Mines

Petra Diamonds Ltd. (LSE:PDL) announced that it has begun selling its Helam, Sedibeng and Star fissure mines, all of which are located in South Africa. Corporate financial adviser QuestCo Ltd. will manage the sale.

As quoted in the press release:

Petra is of the view that the Fissure Mines present a rare opportunity to purchase high quality, sustainable kimberlite operations.

The Fissure Mines comprise the three mines – Helam, Sedibeng and Star. The Sedibeng operation is an amalgamation of the Messina and Dancarl fissure mines, as well as the Bellsbank kimberlite pipe – a promising, advanced-stage exploration project in the vicinity of the Sedibeng mine.

Helam, Sedibeng and Star are well-established fissure mines which have been in operation for more than 50 years. Helam is located 70km west of Rustenburg in the North West Province, Sedibeng is located 80km north-west of Kimberley in the Northern Cape Province, and Star is located 4km south of Welkom in the Free State Province.

Click here to read the full Petra Diamonds Ltd. (LSE:PDL) press release.