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Petra Diamonds sells its stake in the troubled Williamson mine in Tanzania for up to $16 million.
Petra Diamonds plans to sell its entire share in the Williamson mine in Tanzania to Pink Diamonds Investment for up to $16 million.
This move comes as diamond prices have dropped, and the sale aims to consolidate ownership and benefit stakeholders.
The transaction is subject to regulatory approval and is expected to close in the first quarter of 2025.
Petra will use the proceeds for general corporate purposes.
The Williamson mine has faced issues including regulatory troubles and environmental concerns.
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Petra Diamonds vende su participación en la turbulenta mina Williamson en Tanzania por hasta 16 millones de dólares.