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flag Petra Diamonds sells its stake in the troubled Williamson mine in Tanzania for up to $16 million.

flag Petra Diamonds plans to sell its entire share in the Williamson mine in Tanzania to Pink Diamonds Investment for up to $16 million. flag This move comes as diamond prices have dropped, and the sale aims to consolidate ownership and benefit stakeholders. flag The transaction is subject to regulatory approval and is expected to close in the first quarter of 2025. flag Petra will use the proceeds for general corporate purposes. flag The Williamson mine has faced issues including regulatory troubles and environmental concerns.

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