Miner Petra Diamonds sells its 425-carat legacy diamond

Petra Diamonds talked about on Tuesday it provided its 425-carat ‘Legacy of the Cullinan Diamond Mine’ diamond to Belgium-based Stargems Group for $15 million.

The miner, which recovered the diamond at its flagship Cullinan mine in March, talked about the sale was vital for the company.

Petra has been struggling to clear its multi-million-dollar cash owed after it borrowed carefully to revamp the Cullinan facility and began mining a model new a part of ore last July.

However, Cullinan has been worthwhile yearly since Petra acquired it in 2008 and the mine is predicted to generate free cash circulation this 12 months.

Shares of the miner had been down 2.9% to 24.12 pence at 1:14 GMT.

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