SourcingApr 21, 2022
De Beers Slated to Begin Diamond Exploration in AngolaSourcingMay 02, 2022
Petra Looking to Sell One of Its Mines in South Africa
The diamond miner wants to find a “technically and financially suitable” buyer for Koffiefontein.
Petra Diamonds is looking to sell the Koffiefontein mine in South Africa. Petra has interest in three underground diamond mines in South Africa—Koffiefontein, Cullinan, and Finsch (pictured here)—as well as the open-pit Williamson mine in Tanzania. (Photo courtesy of Petra Diamonds Ltd.)
London—Petra Diamonds Ltd. announced last week it’s looking for a buyer for Koffiefontein in South Africa, an underground mine that’s nearing the end of its life.
Petra said in conjunction with its Black Economic Empowerment (BEE) partners, Kago Diamonds (Pty) Ltd. and the Itumeleng Petra Diamonds Employee Trust, it is exploring a “responsible” exit from the mine.
According to a history of the mine provided by Petra, diamonds were first discovered on the Koffiefontein farm in 1870, and De Beers acquired control of the site in 1911.
The open-pit mine went underground in 1974, and De Beers completed the sale of the mine to Petra in 2007.
The current life-of-mine plan calls for Koffiefontein to operate until FY 2025.
Petra, which just completed a restructuring after failing to find a buyer itself, would like to find a “technically and financially suitable buyer” that could extend the life of the mine, which includes 1.11 million carats in indicated resources.
Related stories will be right here …
Petra said in conjunction with its Black Economic Empowerment (BEE) partners, Kago Diamonds (Pty) Ltd. and the Itumeleng Petra Diamonds Employee Trust, it is exploring a “responsible” exit from the mine.
According to a history of the mine provided by Petra, diamonds were first discovered on the Koffiefontein farm in 1870, and De Beers acquired control of the site in 1911.
The open-pit mine went underground in 1974, and De Beers completed the sale of the mine to Petra in 2007.
The current life-of-mine plan calls for Koffiefontein to operate until FY 2025.
Petra, which just completed a restructuring after failing to find a buyer itself, would like to find a “technically and financially suitable buyer” that could extend the life of the mine, which includes 1.11 million carats in indicated resources.
If not, it will move forward with the current plan to close the mine by 2025. The company said it already has begun “right-sizing” the operation, a process likely to involve layoffs.
Petra has hired Questco Corporate Advisory to manage the potential sale of the mine.
All interested parties should contact Questco by May 9. The contacts are: Ciska Kloppers at +27 82 303 4826, Kaveshan Subramanian at +27 73 201 4359, or via email to projectoasis@questco.co.za.
Based in the U.K., Petra has interest in three underground mines in South Africa—Koffiefontein, Finsch, and Cullinan, all former De Beers mines—as well the open-pit Williamson mine in Tanzania.
Cullinan is known for producing large diamonds, including the largest known rough diamond recovered to date.
The mine also produced the 39.34-carat chunk of rough that became the “De Beers Cullinan Blue Diamond,” a 15.10-carat fancy vivid blue that just sold for nearly $58 million at Sotheby’s.
Editors' Picks
Sponsored by
The Latest
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
Weekly QuizAug 27, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
CrimeAug 27, 2026
Customs Seizes Nearly 900 Pieces of Counterfeit JewelryThe package, intercepted in Indianapolis, contained fake Cartier, Tiffany & Co., and Van Cleef and Arpels jewelry.
IndependentsAug 27, 2026
Jessica McCormack to Open First West Coast StoreThe new location in Costa Mesa, California, marks the brand’s second store in the United States and fourth standalone location worldwide.
FinancialsAug 27, 2026
Movado’s Q2 Sales Up As Younger Consumers Take Interest in WatchesThe fashion watch category was once threatened by the Apple Watch, but consumers are now opting for new wearables, said Movado’s CEO.
SurveysAug 26, 2026
5 Jewelry Insights From The RealReal’s Resale ReportThe report delves into trending styles, the most popular jewelry brands by city, and why Belle Époque jewelry could be the next big thing.
Lab-GrownAug 26, 2026
AGTA Now Requiring Members to Call Lab-Grown Gems ‘Synthetic’The association added the requirement to its revised "Code of Ethics" and released the 17th edition of its “Gemstone Information Manual.”
SurveysAug 26, 2026
Consumer Confidence Dips in August Amid Anticipatory Anxieties Respondents were concerned about the future of the labor market and their income as well as the rising prices of gas and groceries.
TrendsAug 26, 2026
Boucheron’s New Campaign Celebrates Its ‘Question Mark’ NecklacesThe campaign highlights the asymmetrical high jewelry necklace style that the jeweler first created in 1879.
Events & AwardsAug 26, 2026
Harry Winston Exhibition to Open in ShanghaiIt will explore the life of “The King of Diamonds” and showcase more than 165 creations from the brand.
CrimeAug 25, 2026
Florida Woman Scammed Out of $1.5M in Jewelry, Precious MetalsTwo suspects have been arrested in connection with the complex phone scam.
ColumnistsAug 25, 2026
Proof Before Purchase: The Gen Z Way to BuyIn her first column for National Jeweler, Jennifer Shaheen asks jewelers if they know how to connect with the next generation of consumers.
Events & AwardsAug 25, 2026
SSEF Opens 2026 Applications for Gemology Education ScholarshipsThe annual awards cover tuition for an on-site educational course at the Swiss lab, as well as flights and lodging.
TrendsAug 25, 2026
Brent Neale Celebrates Blackberry Farm’s Anniversary With JewelryThe jeweler partnered with the Tennessee resort to honor its 50th anniversary with limited-edition blackberry pendants and earrings.
EditorsAug 24, 2026
Q&A: Reeds Jewelers VP Genna Zimmer on 80 Years in BusinessThe third-generation jeweler shared how the North Carolina retailer is celebrating this milestone and the love story that started it all.
Events & AwardsAug 24, 2026
Rio Grande, MetalWerx Host Argentium Silver WorkshopThe class, led by renowned metalsmith Cynthia Eid, highlighted Argentium silver as an alternative to gold amid high prices.
Events & AwardsAug 24, 2026
JIS Miami Opens Fall 2026 RegistrationThe show is slated for Oct. 16-19 at the Miami Beach Convention Center.
CollectionsAug 24, 2026
Francesca Villa Honors Napoleon, His Empresses In New CapsuleThe “Empresses” capsule uses 19th-century medals depicting Napoleon, Joséphine, and Marie-Louise across five one-of-a-kind pieces.
SurveysAug 21, 2026
These Are 2026’s Hottest Retailers, Says NRFThe retailers at the top of the list offer affordable products and fun, discovery-fueled experiences.
WatchesAug 21, 2026
Bremont Names Former Vacheron Constantin Exec CMODaniel Bing was formerly the marketing director for the Americas at Vacheron Constantin.
