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 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.
The Latest

A new court filing details the locations of the stores that will close, as well as the 830 that will remain open.

The new catalogs are “Tools, Equipment, & Metals 2026-2027” and “Findings & Metals 2026-2027.”

Sapphire’s variety of colors make it the perfect birthstone for September.

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

The retailer has raised its guidance after seeing total sales increase 3 percent in the second quarter, beating expectations.


Niccolò Rossi di Montelera, executive chairman of the board, was appointed as interim CEO.

The three-floor space also features the jeweler’s largest VIP salon in Japan and offers an exclusive diamond pendant.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

The collection is a collaboration between Stephanie Gottlieb Fine Jewelry and Oak and Luna, focusing on understated essentials.

The highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.

CEO Efraim Grinberg noted a resurgence in the fashion watch market.

The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.

Sponsored by Clientbook

It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.

Former Free People buyer Afton Robertson-Kanne recently joined the retailer.

The jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.

The singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.

Dubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.

Plans for dining out, booking vacations, and buying big-ticket items were down.

The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.

Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.

The Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.

The family-owned jeweler in Fayetteville, North Carolina, is in the hands of the second generation.

In his latest column, Emmanuel Raheb shares tips for encouraging customers to treat themselves to new jewelry.

The new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.

The Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.

Wrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.