(mining.com) - Diamond miner Petra Diamonds invited merger and acquisition proposals on Monday, with CEO Richard Duffy saying the industry would benefit from consolidation. The diamond mining industry is dominated by Russia’s Alrosa on one hand, and Anglo American’s De Beers on the other, with the remainder of the sector made up of various small mining firms including Petra. “We have got opportunities to grow organically, but given that we are through this restructuring and we have a much more robust balance sheet, we would be willing to consider consolidation if it makes value sense,” Duffy told Reuters in an interview on the sidelines of the Investing in African Mining Indaba in Cape Town.
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