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Petra to Resume Sales from Williamson Mine
Sep 28, 2017 4:50 AM
By Rapaport News
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RAPAPORT... Tanzania has permitted Petra Diamonds to resume exports and
sales of diamonds from its Williamson mine, after the government seized a
parcel of rough over a valuation dispute.
Authorities prevented the export of 71,654 carats of
diamonds last month after claiming the stones were worth more than Petra
had initially stated. The company has not yet reached a resolution with the
government over these diamonds, which remain in the possession of officials.
Petra said it would finalize with the government the exact
timing and process for the next export of diamonds to Petra’s marketing office
in Antwerp.
Williamson operations were briefly halted earlier this
month as authorities were questioning key personnel from the deposit.
Production resumed after four days.
Shares in Petra rebounded 8% Thursday morning, having slumped more than 20% since news broke of the parcel's confiscation on September 9. |
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Tags:
Antwerp, exports, petra, Petra Diamonds, Rapaport News, tanzania, Tanzanian government, Williamson, Williamson Mine
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