Company in last stages of De Beers’ Finsch mine deal.
Petra Diamonds has released an update on its acquisition of the Finsch diamond mine in South Africa from De Beers Consolidated Mines Limited.
As announced in January this year, the completion of the acquisition was subject to a number of conditions precedent, the majority of which have now been reached. The last material conditions are the consent of the Minister of Mineral Resources to the cession of the mining right (including rehabilitation obligations) in respect of Finsch and registration of the ceded mining right in the South African Mineral and Petroleum Titles Registration Office.
Pertra has said the application for consent to satisfy the outstanding conditions is progressing well and the company will provide an update in due course.