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Share Price Information for Petra Diamonds (PDL)

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Share Price: 43.00
Bid: 43.00
Ask: 43.40
Change: 1.10 (2.63%)
Spread: 0.40 (0.93%)
Open: 41.70
High: 43.40
Low: 41.10
Prev. Close: 41.90
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Petra Diamonds says it reaches settlement on rights abuse claims

Wed, 12th May 2021 14:56

KAMPALA, May 12 (Reuters) - Petra Diamonds has
reached a settlement with claimants at its Williamson mine in
Tanzania who accused the firm of being responsible for
widespread human rights violations including beatings and
detentions, both sides said.

Last year, the firm said it was investigating allegations
that artisanal miners who trespassed on the firm's Williamson
mine in Tanzania were detained, beaten and shot at, killing at
least seven of them.

The abuses were allegedly committed by security contractors
and security employees of Petra's subsidiary Williamson Diamonds
Limited (WDL).

"Petra Diamonds Limited today confirms that a settlement has
been reached, on a no admission of liability basis," Petra said
in a statement.

A London-based law firm, Leigh Day, had sued Petra in a
London court on behalf of 71 claimants who alleged the human
rights abuses.

Petra owns 75% of the mine, while the Tanzania government
owns the rest. The firm said it had agreed to a settlement worth
4.3 million pounds ($6.1 million) that will cover direct
compensatory payments to victims, their legal expenses,
investments in community projects and others items.

The firm said its investigations had confirmed incidents at
the mine that "regrettably resulted in the loss of life, injury
and the mistreatment of illegal diggers."
($1 = 0.7084 pounds)
(Reporting by Elias Biryabarema; editing by David Evans)

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