Johan Dippenaar, CEO of Petra, commented: “We are pleased to have concluded this arrangement which records an excellent sales value for the rough stone, and also gives Petra exposure to the uplift in value post beneficiation. We look forward to providing the market with further information on the stone’s journey at the appropriate time in the future.”
The stone will be cut and polished. From the sale of the polished stone, Petra will receive its share of 15 percent from the sales proceeds, after beneficiation and related expenses, the company noted.
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