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Petra, Ekapa Combine Kimberley Operations

Jul 10, 2016 7:11 AM   By Rapaport News
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RAPAPORT...
Petra Diamonds and Ekapa Mining agreed to merge their operations in South Africa's Kimberley region in a bid to extend mining in the historic diamond-mining area.

As part of the deal Petra’s Kimberley Underground mines, Ekapa’s tailings operations, the Kimberley Miners Forum and the Kimberley Mines tailings operations have been combined. The JV comes after Petra and Ekapa acquired the tailings operations from De Beers in a deal that took effect January 18.

A new entity, the Kimberley Ekapa Mining Joint Venture (KEM), was set up effective July 1. It is 75.9 percent owned by Petra and its Black Economic Empowerment partners and the remained 24.1 percent is held by Ekapa Mining.

"The KEM JV is expected to bring significant synergies to the operations at Kimberley, including the ability to increase throughput and reduce operating costs, thereby extending the operation's mine life,” said Johan Dippenaar, Petra’s chief executive officer.
Tags: Ekapa Mining, Johan Dippenaar, kimberley, Kimberley Ekapa Mining Joint Venture, Kimberley mines, Kimberley Underground mines, mining, Petra Diamonds, Rapaport News
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