De Beers Completes Sale of Kimberley Mines

Finance and Trade
21/01/2016 11:37

De Beers has announced the completion of the previously announced sale of the historic Kimberley mines in South Africa. The sale was of all assets related to the mine, including the tailings resources. The mines were acquired by Petra Diamonds Limited in a consortium with Ekapa Mining (Pty) Ltd, an established Kimberley-based diamond tailings producer, which bought the Kimberley mines from De Beers Consolidated Mines Proprietary Limited. The consortium's acquisition vehicle owned by Ekapa Mining (50.1%) and Petra (49.9%) acquired the mines as a going concern for approximately $7.2 million.