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Upholding the Value of Diamonds

Petra is committed to upholding the high value placed on diamonds

We are committed to upholding the high value placed on natural diamonds, which are given to celebrate life’s most special moments and are considered as prized possessions.

Our diamonds have a unique provenance in that they are sourced from some of the most culturally significant diamond mines in the world. The Cullinan Mine, Finsch, Koffiefontein and Williamson Mines all have rich histories associated with them, as over time they have produced many of the world’s most spectacular and celebrated diamonds.

We produce the full spectrum of diamonds, from lower quality goods to some of the most valuable diamonds in the world. In July 2021, a 39.34 carat blue diamond from the Cullinan Mine sold for US$40.2 million, or c.US$1 million per carat. This equates to c.US$5 million per gram, undoubtedly one of the most highly concentrated forms of wealth known to man.

It is our duty therefore to ensure that every aspect of our business is managed and run in keeping with the value placed upon our product. As such, we monitor and manage each step in the diamond production process to the highest ethical standards and in accordance with our Values: from exploration and mining, through to processing, sorting and finally marketing and sale. Petra’s commitment to ethical conduct is enshrined in our Group Code of Conduct, which sets out the behaviour we expect from employees, contractors, partners and suppliers. The Code of Ethical Conduct is implemented through a training and communications plan, which is covered in some detail in the general induction that all new employees and contractors, as well as those returning after a period of absence (e.g. annual leave) need to complete before being allowed back in the workplace. All contracts concluded with suppliers also make specific reference to their expected compliance with the Code.

Most people are unaware of the role diamonds play in bringing real benefits to people in countries around the world, and nowhere is this more evident than in Africa. In Petra’s countries of operation, the multiplier effect of diamond mining is x10, meaning that for every person directly employed, there are an additional nine dependents supported by our mines.

As well as the benefits that stable employment brings, companies such as Petra do much more to assist their local communities – from community health and wellbeing initiatives, employee development and training, support for local education, environmental programmes and projects to target poverty alleviation and stimulate socio-economic development.

We are committed to a transparent and equitable sales process and are proud to offer all of our South African production for sale in Johannesburg, thereby promoting South Africa as an international diamond hub. We are proud to contribute to the economic upliftment of Africa, a continent on the rise.

We will only operate in countries which are members of the Kimberley Process and will never sell diamonds mined from unknown sources, thereby providing assurance that 100% of our production is certified as ‘conflict-free’.