Browsing: petra


Petra Williamson Mine TanzaniaTanzania now owns 37 per cent of Williamson Diamonds Ltd, the single, largest diamond deposit to be in continuous production for over 70 consecutive years now.

Discovered in 1940, the mine boasts to be the world’s longest-running uninterrupted diamond mining operation. The open-pit mine is sprawled on over 140 hectares of land in Tanzania’s remote region of Mwadui.

Known scientifically as the kimberlite pipe, the mine is primarily owned by Petra Diamonds Ltd. Tanzania struck the deal early this month increasing its ownership by 12 per cent and cutting down Petra’s stake to 63 per cent from a high of 75 per cent.

This recent share split is the latest of moves signed by Tanzania with three other mining giants Faru Graphite Corporation, Nyati Mineral Sands Ltd and Sotta Mining Corporation Ltd.

According to a government media communiqué released by Prof Palamagamba Kabudi, who led the negation’s for the Tanzanian …


Trouble laden Petra Diamond is planning to sale 75 per cent stake of its Tanzanian diamond business but the government of Tanzania says, no. Rightfully so, because as a stakeholder, the government had every right to be informed prior to any sell attempt and in this case, it was not.

The company currently owns the Williamson mine in partnership with the government of Tanzania and as a share holder, the government has said it was not consulted prior to the sale plans.

This government response comes just a fortnight after the UK based miner announced the decision to sell.

In its initial announcement, local media quoted the company’s Africa Corporate Communications Manager, Ms Cathy Malins admitting that the company was facing heavy losses and has no choice but to sale.

The Communications Manager attributed the losses to effects of Covid-19 saying there is a dire fall in the global market.…