Almas Resources: Emerging Diamond Producer

Historic SA diamond mine to be placed on care and maintenance

January 16, 2023


"London-listed Africa-focused Petra Diamonds announced on Monday that the historic Koffiefontein diamond mine would be placed on care and maintenance.

As reported by Mining Weekly in May last year, Petra was exploring a responsible exit from its investment in the Koffiefontein diamond mining operations, together with black economic empowerment partners Kago Diamonds and the Itumelang employee trust. Petra Diamonds owns 74% of the asset, Kago 14% Itumeleng 12%.

The view expressed by Petra at the time was that it might be feasible for another owner to extend the mine’s life, but a buyer has not been found and the mine, situated in the Free State province, about 80 km from Kimberley, will now be shut.

“The board, in ongoing consultation with its stakeholders, has taken the difficult decision to cease operations and place Koffiefontein on care and maintenance,” Petra CEO Richard Duffy stated in a release.

“Engagement with our key stakeholders remains constructive as we seek to ensure an inclusive and responsible process towards mine closure,” said Duffy."


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