Our History

Petra has transformed from its origins as a diamond exploration junior to a leading independent diamond producer

Since listing on AIM in 1997, Petra has grown significantly from a junior diamond explorer with a market capitalisation of less than £10 million to a leading independent diamond mining group, quoted with a premium listing on the Main Market of the London Stock Exchange.

Through the acquisition of diamond mining assets that were non-core to De Beers, Petra has amassed interests in five producing operations (four in South Africa and one in Tanzania), with a major resource base in excess of 300 million carats.

Petra offers an exceptional growth profile, with a core objective to steadily increase annual production to ca. 5.3 million carats by FY 2019.

1997

Petra listed on AIM with a market capitalisation of <£10 million.

1998

Petra made new kimberlite discoveries in Angola – over the coming years, a sizeable kimberlite field was identified in Alto Cuilo.

2004

Petra entered into a joint venture with BHP Billiton to continue exploration at Petra’s Angolan projects.

2005

Petra merged with ASX-quoted Crown Diamonds, introducing three producing diamond mines to the Group (the Fissure mines: Helam, Sedibeng and Star).

Petra acquired Kalahari Diamonds (exploration arm in Botswana).

2007

Petra acquired a majority interest in the Koffiefontein mine in South Africa.

2008

Petra acquired an initial 37% interest in the Cullinan mine in South Africa.

Petra withdrew from exploration activities in Angola further to the global economic downturn and a strategic decision to focus on cash generative production.

2009

Petra acquired a majority interest in the Williamson mine in Tanzania.

Petra raised US$120 million via an equity fundraising – the new funds enabled Petra to increase its ownership in Cullinan to 74%.

2010

Petra’s annual production rose to over 1 million carats.

Petra acquired a majority interest in the Kimberley Underground mine in South Africa.

2011

Petra raised US$325 million via an equity fundraising. The majority of the funds raised were used to acquire a majority interest in the Finsch mine in South Africa.

Petra stepped up from AIM to the Main Market of the London Stock Exchange.

2012

Petra’s production doubled to 2.2 million carats.

2013

Petra’s production increased to 2.7 million carats.

2014

Petra divested of the fissure mines Sedibeng and Star, which were no longer core to the Group’s portfolio; the Helam mine commenced a process to be placed on care and maintenance.

Petra’s production increased to 3.1 million carats.

2015

Petra raised US$300 million through an inaugural senior secured second lien Loan Notes Issue.

Petra’s production increased to 3.2 million carats.

Petra paid a maiden dividend 3.0 US cents per share.

2016

Petra acquired a 49.9% interest in the Kimberley Mines in South Africa.

Petra combined its operations in Kimberley with those of Ekapa Mining via the formation of the Kimberley Ekapa Mining Joint Venture.

Petra’s production increased to 3.7 million carats.

2017

Petra refinanced and rationalised its debt profile by raising US$650 million through a senior secured second lien Loan Notes Issue.