By Oliver Griffin 
 

Anglo American PLC's (AAL.LN) majority-owned diamond miner De Beers said Thursday that it has acquired Peregrine Diamonds Ltd. (PGD.T) for 107 million Canadian dollars ($81 million).

The diamond miner said Peregrine Diamonds has exploration properties in Canada and that its Chidliak diamond resource, located in Canada's Nunavut Territory, holds significant development potential.

The Chidliak Phase One Diamond Development program has an inferred mineral resource in excess of 22 million carats, De Beers said.

At 1248 GMT shares in Anglo American, which has a controlling 85% stake in De Beers, were down 3.1% at 1,639 pence.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com

 

(END) Dow Jones Newswires

July 19, 2018 09:11 ET (13:11 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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