Petra’s Cullinan Mine Yields Rare 39 Ct Blue Diamond

Petra Diamonds’ historic Cullinan mine in South Africa produced a 39.19 carat blue diamond, the London-listed mining company said on Tuesday.

The rare find is included in the company’s tender in Johannesburg and available for buyers to view.

Petra bought Cullinan, an important source for blue diamonds, from diamond giant De Beers in July 2007, and is in the process of acquiring Kimberley Underground and Williamson, making it one of the world’s largest independent diamond groups on a resource basis.

Cullinan is famous for producing the largest rough gem-quality diamond ever found – a whopping 3,106.75 carats –  from which the crown jewels of the United Kingdom were manufactured. 

Petra’s production base also includes Koffiefontein and the fissure mines, Alto Cuilo and Luangue in Angola, Kalahari Diamonds in Botswana and Kono in Sierra Leone; completion of the acquisition of the Williamson mine in Tanzania is expected later this month.

The company said it was on track to increase its annual production from 200,000 carats for the year ending June 2008 to over 1 million carats by June 2009.