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April 2, 2020

Petra Diamonds shares jump on 425-carat discovery at Cullinan

Shares in Petra Diamonds jumped more than 8% on Friday after the miner announced it had dug up a 425.1 carat, D-colour, Type II gem quality diamond at its iconic Cullinan mine in South Africa.

The discovery comes less than a month after Petra found a 100.83 carat gem-quality white diamond at the same mine, source of the world’s biggest-ever diamond, which was unearthed in 1905.Earlier in March, Petra had recovered a 100.83 carat, white D-colour type II gem-quality stone

The company, which appointed last month former gold miner Richard Duffy as chief executive, said both recoveries demonstrated the frequency of such large stones at Cullinan.

Read more about the latest Petra Diamonds discovery online HERE

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