Diamond company Petra approves Kalahari acquisition
27 Sep '05
3 min read
The acquisition of Kalahari represents a significant step in Petra's strategy of building a quality exploration portfolio to complement its current producing mines, as Petra continues with its objective of becoming a significant player in the diamond industry. One of Petra's objectives has been to increase its geographical spread of assets across the African continent, focusing on areas that are known to hold major diamond deposits so as not to be overly reliant on any one country.
Kalahari applies the airborne Falcon gravity survey method in conducting diamond exploration on its prospecting areas in Botswana. The Falcon technology provides a new dimension in exploration for diamonds. It is able to 'see through' the surface cover which overlies much of Botswana and detect anomalies through these cover rocks.
Petra Diamonds is an AIM-quoted & ASX-listed mining group focused on the exploration and mining of diamonds in Africa. Petra's strategy is to build a portfolio of cash flow positive, producing mines combined with the 'blue sky' of high quality exploration assets, thereby creating sustainable value for the group and its shareholders.
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