Speakers from Touchstone Exploration, Shanta Gold, Savannah Resources and Kavango Resources feature in our Natural Resources webinar on May 25th. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPetra Diamonds Share News (PDL)

Share Price Information for Petra Diamonds (PDL)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1.47
Bid: 1.40
Ask: 1.55
Change: 0.00 (0.00%)
Spread: 0.15 (10.71%)
Open: 1.45
High: 1.51
Low: 1.45
Yest. Close: 1.47
PDL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Petra Shares Slide Amid UK Court Claim Over Alleged Human Rights Abuse

Wed, 9th Sep 2020 17:38

(Alliance News) - Petra Diamonds Ltd on Wednesday said it has found itself in the cross-hairs of a High Court claim by a UK law firm relating to potential human rights abuses at its 75%-owned Williamson diamond mine in Tanzania.

Petra shares closed 14% lower at 1.72 pence each in London on Wednesday.

Petra Diamonds said the claim was made against Williamson Diamonds Ltd, the operator of the mine. The Tanzanian government holds the remaining 25% stake in the asset.

The claims relate to alleged human rights violations at Williamson and have been filed on behalf of 32 "anonymous individuals", Petra said.

"The claims are understood to allege that Petra and WDL are liable for human rights violations, personal injuries and deaths suffered by these anonymous individuals at and surrounding the mine, arising from the mine's security operations," Petra added.

"To date, the claims filed by Leigh Day have not been served on either Petra or WDL. In its letter before claim, Leigh Day has expressed an interest in alternative dispute resolution methods, including mediation."

Also, Petra said it has "very recently" received a letter from RAID, a UK-based non-governmental organisation, outlining similar allegations raised by local residents near the Williamson site.

The company said: "Petra will cooperate with RAID in order to understand fully the nature of its concerns.

"Petra takes these allegations extremely seriously. WDL, as the operator of the mine and owner of the mining concession, is carrying out an investigation, as fully and timeously as possible given the limitations imposed by the Covid-19 pandemic, supported by an independent, specialist consultant. Petra is initiating its own independent investigation, through a separate specialist third party, reporting to the Petra board."

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News

TRADING UPDATES: Petra prices recover; Zoo Digital earnings to jump

TRADING UPDATES: Petra prices recover; Zoo Digital earnings to jump

20 Apr 21 18:36

Moody's upgrades Petra Diamonds' rating to Caa1; positive outlook

Moody's upgrades Petra Diamonds' rating to Caa1; positive outlook

7 Apr 21 20:06

IN BRIEF: Petra delays feedback on Williamson mine allegations

IN BRIEF: Petra delays feedback on Williamson mine allegations

1 Apr 21 06:57

Watchdog RAID claims eye witness account of "abuses" at Petra mine

Watchdog RAID claims eye witness account of "abuses" at Petra mine

25 Mar 21 13:07

SMALL-CAP WINNERS & LOSERS: Empiric Student sinks to loss on closures

SMALL-CAP WINNERS & LOSERS: Empiric Student sinks to loss on closures

17 Mar 21 11:09

Friday broker round-up

(Sharecast News) - Petra Diamonds: Berenberg upgrades to buy with a target price of 2p.

12 Mar 21 13:25

BROKER RATINGS: SocGen upgrades Shell and Centrica to Buy

BROKER RATINGS: SocGen upgrades Shell and Centrica to Buy

12 Mar 21 09:41

LONDON BRIEFING: UK economy withstands lockdown in January

LONDON BRIEFING: UK economy withstands lockdown in January

12 Mar 21 08:09

IN BRIEF: Petra Diamonds completes restructuring process

IN BRIEF: Petra Diamonds completes restructuring process

10 Mar 21 19:22

IN BRIEF: Petra Diamonds sells 299 carat diamond for USD12 million

IN BRIEF: Petra Diamonds sells 299 carat diamond for USD12 million

5 Mar 21 21:56

CORRECT: Petra Diamonds Reports 8% Revenue Decline But Prices Recover

CORRECT: Petra Diamonds Reports 8% Revenue Decline But Prices Recover

16 Feb 21 14:26

Petra Diamonds Reports Double-Digit Revenue Decline But Prices Recover

Petra Diamonds Reports Double-Digit Revenue Decline But Prices Recover

16 Feb 21 12:00

UPDATE 2-FTSE 100 slips to snap three-day winning streak; miners support

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Glencore shines on restoring dividend* Serco rises on buyout offer for Whitney, Bradley & Brown* BHP up on declaring record dividend* FTSE ...

16 Feb 21 09:30

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

9 Feb 21 16:18

Petra Production Drops; Waiting On Explanation From Missing Parcel

Petra Production Drops; Waiting On Explanation From Missing Parcel

19 Jan 21 17:48

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.