De Beers Consolidated Mines's (DBCM) R1-billion sale of its Cullinan diamond mine in Pretoria to the Petra Diamonds Cullinan Consortium (PDCC) has taken an important step forward with Monday's announcement that the Department of Minerals and Energy has agreed to convert the old-order mining right held by De Beers into a new-order mining right.

The PDCC comprises Alternative Investment Market-listed diamond-mining junior Petra Diamonds and Saudi-based investment company Al Rajhi Holdings, as well as their empowerment partner, Thembinkosi Mining Investments..

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