GJ Town India

Letlapa Tala Collection Special Tender achieves US$40.36 million   Following a competitive tender process, Petra Diamonds Limited announces that the Letlapa Tala Collection of five blue diamonds, weighing 85.6 carats in total, was sold as a suite of stones to a partnership between De Beers and Diacore for a total price of US$40.36 million, payable in cash prior to delivery of the stones. Richard Duffy, Chief Executive of Petra, commented, “The result of this special tender affirms the very high value placed on blue diamonds, which are undoubtedly one of nature’s rarest treasures. We believe this to be the first time that five rough blue diamonds of significant size, colour and clarity have been offered for sale at one time and we are delighted that the collection has been bought in its entirety.”   The Letlapa Tala Collection consists of five Type IIb blue diamonds of 25.75, 21.25, 17.57, 11.42 and 9.61 carats in size. Type II diamonds contain no detectable nitrogen in their...

Standalone tender for Letlapa Tala Collection in November   Petra Diamonds Limited announces the following unaudited Trading Update for the three months ended 30 September 2020, Q1 FY 2021. Q1 production down 10% to 974,346 carats against the same period-Q1 FY 2020 had remained of 1,082,764 carats, mainly due to the Williamson mine remaining on care and maintenance.   Q1 revenue increased 33% to US$82.0 million over the Q1 FY 2020 of US$61.6 million, mainly due to the release of inventory carried over from Q4 FY 2020. Although diamond prices increased ca. 21% on a like-for-like basis at the September 2020 tender in comparison to the prices obtained following the Covid-19 outbreak, with a further ca. 2% increase at the October 2020 tender post Period end, prices are still down around 10% in comparison to pre-Covid-19 levels.   Due to ongoing uncertainty around the impact of Covid-19, production guidance for FY 2021 remains suspended. While the mines are generally ope...

Type IIb blue diamonds special tender!   Petra Diamonds Limited announces a special tender process for the Letlapa Tala Collection, being five blue diamonds of significant colour, clarity, size and heritage, all sourced from the famed Cullinan Mine in South Africa. Letlapa Tala means ‘blue rock’ in Northern Sotho (commonly known as Pedi), the predominant language spoken in the Cullinan area.   The Letlapa Tala Collection consists of five Type IIb blue diamonds of 25.75, 21.25, 17.57, 11.42 and 9.61 carats in size. Type II diamonds contain no detectable nitrogen in their chemical structure and tend to display exceptional transparency. Type IIb stones contain a small amount of boron which is what determines their blue colour.   Blue diamonds are so rare that most people working in the diamond industry have never even seen one. There are no official statistics on their recovery, so it is therefore even more unusual that these five spectacular stones were all recovered...