Petra Gets Approval to Buy De Beers’ Finsch Diamond Mine for $210 Million

Bloomberg reports Petra Diamonds Ltd. (LON:PDL) will buy a diamond mine from De Beers for $210 million.

The market news is quoted as saying,

The purchase will help Petra more than double last year’s diamond production of 1.1 million carats as it seeks to boost output to benefit from rising prices. Rough, or uncut, prices have risen 68 percent this year after two consecutive annual gains of more than 30 percent, PolishedPrices.com data show.

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