Advanced Search

NGO Warns Petra Lenders About Abuse Claims

Jan 17, 2021 8:12 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Rights and Accountability in Development (RAID), a UK-based nonprofit, has written to Petra Diamonds’ major debt holders to raise concerns about alleged human-rights abuses at its Williamson mine in Tanzania.

RAID claims to have documented at least seven deaths and 41 assaults by security workers at Williamson since Petra acquired the mine in 2009. It detailed the allegations in November in a public report, “The Deadly Cost of ‘Ethical’ Diamonds.”

The organization’s activism comes amid a restructuring at Petra, under which the miner’s lenders will take on equity in return for writing off heavy debts. Petra shareholders approved the transaction last week.

While that deal was in the works in December, RAID executive director Anneke Van Woudenberg sent letters to Bank of America, Monarch, Vontobel, Franklin Templeton, Pimco and BlueBay, urging them to review their relationships with Petra and raise the issue directly with the company, the organization said Wednesday. The group also wrote to other major Petra shareholders whose stakes will soon be diluted by the restructuring program but who remain “interested parties,” Van Woudenberg added.

Petra said it took the allegations “extremely seriously,” and has launched an investigation. It set up an independent board committee to review the matter, and expects to publish its findings during the first quarter of 2021.

Image: The Williamson mine. (Petra Diamonds)
Tags: Anneke Van Woudenberg, BlueBay, Franklin Templeton, NGO, nonprofit, petra, Petra Diamonds, Pimco, raid, Rapaport News, Rights and Accountability in Development, UK, Williamson
Similar Articles
Artisanal mining Sierra LeoneNew Project Aims to Restore Damaged Mining Land
May 09, 2022
Nongovernmental organization Resolve has launched a project to rehabilitate land affected by artisanal and small-scale diamond mining
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.