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Share Price: 43.00

Bid: 43.10

Ask: 45.00

Change: -2.00 (-4.44%)

Spread: 1.90 (4.408%)

Open: 43.00

High: 44.90

Low: 43.00

Prev. Close: 45.00

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Petra Diamonds halts production at Tanzania mine after wall breach

Mon, 07th Nov 2022 11:27

(Alliance News) - Petra Diamonds Ltd on Monday reported that the eastern wall at it tailings storage facility at the Williamson mine in Tanzania was breached.

The breach resulted "in flooding away from the pit which has extended into certain areas outside of the mine lease area," Petra Diamonds said.

The diamond miner focused on South Africa and Tanzania has suspended mining pending an investigation. The company added that no injuries or fatalities have been confirmed.

Petra owns 75% in Williamson Diamonds Ltd, with the government of Tanzania owning 25%.

Petra Diamonds shares fell 5.2% to 109.00 pence each in London on Monday morning following the annoucement.

By Tom Budszus; tombudszus@alliancenews.com

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