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Reserves & Resources

We manage a world-class resource of ca.290 million carats

Petra Diamonds Limited (“Petra” or the “Company” or the “Group”) manages one of the world’s largest diamond Resources of 290 million carats (“Mcts”).  This major Resource implies that the potential mine lives of Petra’s core assets could be considerably longer than the current mine plans in place at each operation, or could support significantly higher production rates.

Gross Resources

As at 30 June 2018, the Group’s gross Diamond Resources (inclusive of Reserves) decreased 4.8% to 290.48 Mcts (30 June 2017: 304.97 Mcts), due to depletion by mining activity at all operations and the pending disposal of Petra’s interest in KEM JV. A new Resource estimation exercise for Cullinan is currently in progress.

Gross Reserves

The Group’s gross Diamond Reserves decreased 16.1% to 42.92 Mcts (30 June 2017: 51.13 Mcts) due to depletions at all operations, the exclusion of the KEM JV Reserves, and a reduction in the recovered grade in the Cullinan Life Of Mine (“LOM”) planning, as a result of the revised grade guidance issued at the time of the H1 FY 2018 Trading Update.

Summary of Gross Reserves and Resources

The following table summarises the gross Reserves and Resources status of the combined Petra Group operations as at 30 June 2018.

Category Tonnes (millions) Grade (cpht) Contained Diamonds (Mcts)
Reserves
Proved
Probable 93.9 45.7 42.92
Sub-total 93.9 45.7 42.92
Resources
Measured 0.2 263.9 0.60
Indicated 396.1 52.9 209.5
Inferred 1,308.6 6.1 80.38
Sub-total 1,704.9 17.0 290.48

 

Download the Company’s 2018 Resource Statement

Key Facts

  • 290.5 Mcts Resource: largest outside the majors
  • 42.9 Mcts Reserves